Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration
SYDNEY (Reuters) - Australia needs to introduce new regulations for digital asset miners, such as tax discounts and a licensing regime for crypto exchanges, to be "competitive with Singapore, the UK and the U.S.", a Senate report said.
The report, published by the Senate's Committee on Australia as a Technology and Financial Centre on Wednesday, also calls for clarity on rules about when banks can refuse to deal with a business customer involved in cryptocurrency.
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