16 Oct 2017
The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017, also known as Australia’s “bitcoin bill”, has marked some important progress.
Today, the Senate Legal and Constitutional Affairs Legislation Committee published its report on the bill making only two recommendations: some definitions should be clarified; and the bill should be passed.
The report is issued after in August this year, the Senate referred the bill to the Committee for inquiry and report.
The bill, which consists of a schedule containing seven parts, seeks to amend the AML/CTF Act and the Financial Transaction Reports Act 1988 (FTR Act) to expanding the objects of the AML/CTF Act to reflect the domestic objectives of AML/CTF regulation.
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