Australia backs the ‘crypto revolution’ against big tech
The federal government will consider new legislation to help Australia play a part in the emergence of Web3, a new form of the internet that underpins cryptocurrencies and digital assets and which Treasury sees as a source of new jobs and tax revenue for the economy.
A new Digital Services Act would protect consumers but also “wholeheartedly and comprehensively” grasp an opportunity for Australia and “signal that we fully appreciate the promise and potential of blockchain technology”, Senator Andrew Bragg will say in a speech on Monday morning.
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