Australian Senate Committee Calls for New Rules for Crypto

“AML/CTF regulations and Financial Action Task Force guidelines need to strike a balance between appropriately managing risks, without implementing the travel rule in a way that undermines the operation of legitimate digital asset businesses,” the committee said in its report in relation to DAOs, referring to anti-money-laundering (AML) rules and countering terrorism financing (CFT). The travel rule refers to a requirement that virtual asset service providers such as crypto exchanges disclose information about their customers. The rule was established by the global Financial Action Task Force.

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