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ARTICLE · 03 NOVEMBER 2021

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A clear regulatory framework for the digital assets sector in Australia: Bragg Report released

Piper Alderman
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The final report focuses on key areas affecting the competitiveness of technology, finance and digital asset industries.

AustraliaTechnology
Michael Bacina
Michael Bacina
Jade McGlynn
Jade McGlynn
Luke Misthos
Luke Misthos
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Michael Bacina, Jade McGlynn and Luke Misthos of the Piper Alderman Blockchain Group bring you the latest legal, regulatory and project updates in Blockchain and Digital Law.

On 20 October 2021, the Senate Select Committee on Australia as a Technology and Financial Centre (Committee), chaired by Senator Andrew Bragg (together the Bragg Report), released its eagerly anticipated final report.

Following on from two interim reports which made a range of recommendations to recognise and better realise the potential of the digital asset industry, this final report focuses on several issues that have been raised to the Committee as key areas affecting the competitiveness of Australia's technology, finance and digital asset industries; specifically: the lack of fit-for-purpose regulation of cryptocurrencies and digital assets; issues relating to 'de-banking' of digital currency-related companies; the policy environment for neobanks in Australia; and options to replace

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