An Australian lawmaker wants to tackle the rise of China’s digital currency
Andrew Bragg is the man behind the changes, he’s from the conservative Liberal Party who wants to put restrictions in place to avoid the use of the digital Yuan.
In a draft bill, the MP wants banks to share details about whether or not they have accepted digital currencies from China.
Of course, Beijing is currently running trials of its sovereign currency at the moment.
But it’s left some lawmakers in a rush to get on top of it.
Earlier this year, the U.S. began setting up fresh rules around the digital Yuan .
In Australia, banks that are found to be breaching the rules could be penalised.
