Connect with us

Hi, what are you looking for?

Coinbase
Coinbase

Cryptocurrency

Stand With Crypto expands to Australia and advocates for clearer blockchain regulations

Coinbase’s crypto advocacy effort, Stand With Crypto, has launched in Australia, with the goal of reshaping attitudes and advancing blockchain policies. This expansion underlines the need for legislative clarity in fostering innovation and retaining expertise in Australia’s burgeoning cryptocurrency business.

Coinbase’s Stand With Crypto program has begun in Australia to support a stronger regulatory environment for the country’s thriving cryptocurrency industry. The organization’s goal is to change public and political perceptions of blockchain by emphasizing its positive applications rather than its negative connotations with fraud or scams. Coinbase’s Vice President of International Policy, Tom Duff Gordon, stated that this expansion aims to establish sensible regulations that will foster the development and success of blockchain technology in Australia.

Gordon noted that Stand With Crypto’s objective is to educate policymakers about the broader possibilities of blockchain technology in industries such as finance, healthcare, and logistics. He underlined the importance of having a more informed and balanced perspective on bitcoin, arguing that a grassroots approach paired with political lobbying can help change the debate in Australia.

A lack of regulatory clarity has hampered Australia’s cryptocurrency business, with many entrepreneurs and investors taking a wait-and-see strategy until more certainty is achieved. Coinbase Australia’s managing director, John O’Loghlen, expressed worry that without clear policies, Australia risks losing tech talent to countries that are more accommodating of digital assets.

Australian political support for the cryptocurrency industry is also increasing. Simon Kennedy, a member of the Australian House of Representatives, has claimed that the Liberal Party aims to support crypto-friendly measures as the 2025 federal election approaches, implying that bipartisan support is also feasible.

One big difficulty is that Australian regulatory frameworks are based on decades-old legislation that is out of step with modern digital assets. As O’Loghlen pointed out, modifying outmoded legislation to accommodate blockchain technology will necessitate careful analysis and collaboration among regulators, corporations, and campaigners.

Stand With Crypto has already expanded its campaigning efforts to other nations, including Canada and the UK. In the United States, the organization has actively promoted pro-crypto legislation and candidates, with over 280 of them obtaining seats in the 2024 elections. This global movement demonstrates a concerted attempt to develop regulatory systems that can accommodate the unique elements of blockchain while encouraging innovation.

As cryptocurrency advocacy initiatives gain traction in Australia, Stand With Crypto’s participation is a critical step toward fostering a friendly regulatory climate. By balancing innovation and investor safety, Australia has the potential to become a blockchain industry leader, setting the path for long-term economic and technological progress.

Conclusion: Stand With Crypto’s entry into Australia is an important step in advocating for a regulatory system that fosters blockchain innovation. As political support rises, Australia may become a more receptive environment for blockchain technologies, allowing the global crypto industry to evolve.

Advertisement

You May Also Like

Cryptocurrency

This week in the crypto world, we saw significant developments ranging from Elon Musk’s new wealth record to record-breaking Bitcoin ETF inflows. Meanwhile, nations...

Cryptocurrency

MARA, formerly Marathon Digital, has made a substantial step into the Bitcoin market, acquiring 6,474 BTC worth around $615 million through a $1 billion...

Cryptocurrency

Former SEC Commissioner Paul Atkins is the top candidate to lead the agency under Donald Trump's presidency. His selection could signal a more forward-thinking...

Finance

According to research by the US Treasury, low-income households are using bitcoin gains to acquire larger mortgages and boost their access to housing. However,...

polkadot
Polkadot (DOT) $ 10.94 10.45%
bitcoin
Bitcoin (BTC) $ 96,439.84 1.50%
ethereum
Ethereum (ETH) $ 3,725.57 3.24%
cardano
Cardano (ADA) $ 1.23 1.86%
xrp
XRP (XRP) $ 2.65 0.72%
stellar
Stellar (XLM) $ 0.516602 4.21%
litecoin
Litecoin (LTC) $ 129.50 1.26%