Senators Bragg and Lummis discuss crypto laws collaboration between US, Australia

cointelegraph.com:

Australian Senator Andrew Bragg hasmet with U.S. Senator Cynthia Lummis to discuss potential collaboration on cryptocurrency regulation between the two countries.

Senator Bragg is a crypto-friendly politician from the ruling Liberal Party (a conservative center right party) that has been one of the driving forces behind a proposed forward-thinking regulatory scheme in Australia.

Last year he fronted the Senate Committee on Australia as a Technology and Financial Center (ATFC) which tabled 12 extensive regulatory proposals relating to taxation, decentralized autonomous organizations (DAOs) and company licensing. Two months later, Treasurer Josh Frydenburg outlined intentions to begin implementing at least six of the proposals by mid-2022.

Since then the proposals have been refined and packaged into the Digital Services Act, however, its implementation is up in the air. With the federal election set to take place next month, it is unclear if the act will be adopted if the opposition Labor party is voted in, given it is yet to provide a concrete stance on the crypto sector.

Bragg spoke with Lummis — who is a known crypto proponent and Bitcoin (BTC) hodler — via a video call this week, and told Cointelegraph that the discussion focused mainly on the “opportunities for regulatory equivalents.”

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While he wouldn’t go into specifics, Bragg emphasized the importance of aligning on as many issues as possible with the U.S. given the historical partnership between the two nations:

He also suggested that both governments are looking to set global standards for crypto regulation, noting that “the executive order from President Biden is reasonably similar to what Treasurer Frydenberg