The Australian Senate’s Final Report on FinTech, Crypto and RegTech: Key Changes and Projected Outcomes
In December 2020, the Australian Senate’s Select Committee on Financial Technology and Regulatory Technology released its final report on the opportunities and challenges facing the country’s FinTech and RegTech industries. The report identified key changes that are needed to support innovation and growth in the financial services sector, including greater regulatory clarity and support for digital currencies. It also made a number of recommendations for regulatory and policy changes to support the growth of these industries in Australia. This article will detail the key changes and projected outcomes of the report, as well as provide references and quotes from the report itself.