CEOs Corner: The game has changed

[object Object]
Caroline Bowler
CEOs Corner: The game has changed

I recently returned from the US where cryptocurrency is an election issue. It is now politically expedient to court crypto holders in the swing states. The talking points from the two main candidates have turned to support and a pro-American narrative. Robert Kennedy Junior, the independent candidate, is actively courting the crypto vote, appearing at industry conference Consensus last month. Trump has jumped on the bandwagon, meeting with the industry leaders declaring that he wants “all bitcoin mining” to happen in the US. Watch the game start to change there and ripple around the world.

In Bangkok earlier this year, I heard their central bank talk about their experimentation with digital currencies. Their experience was a multi-year collaboration with other Southeast Asian central banks. Our nearest neighbours are working together to shape this technology to their economic advantage. What role is there for Australia to play?

I’ve been open about BTC Markets researching opportunities in the UAE. We have had conducive conversations with 3 separate regulators, a blend of crypto and traditional financial services. There is a clear mandate to land grab as much of the global crypto eco-system as possible. How this geography will shape the sector is to be determined.

The Markets in Crypto-Assets (MiCA) regulation is on track for implementation by the start of 2025. It is an EU-wide regulatory and supervisory framework for digital assets. 26 member states, starting in 2018, created a purpose-built set of rules for the sector.

It is not an easy journey for any of the regulators. Point is, they are moving ahead, and they are winning by tackling the big thorny issues. They are future proofing their economies in Southeast Asia; being globally competitive in the UAE and EU; and moving the goal posts in the US.

In Australia, BTC Markets is left waiting. The narrative is dominated by talk of scams and criminality. It does not talk of the future. It paints crypto users, investors and innovators as being at best, naïve. Rarely discussed are the Australian businesses battling to be a part of this extraordinary global evolution, trying to keep Australia as a part of it. Despite

BTC Markets has stood resilient for 11 years. Thriving amidst scepticism and adversity. Our journey is a testament to our unwavering commitment to our clients and the community.

As Australia grapples with its stance on crypto, we remain steadfast in our mission. We are not just part of this extraordinary global evolution; we are shaping it. Our strength lies in our community. In the success stories of our clients who inspire us daily.

Together, we will continue to advocate for a future where Australia recognises the immense potential of digital assets. Ensuring that it supports the innovators. We will persevere, driven by the vision of a more inclusive and dynamic financial landscape.

The game has changed, and we will continue to lead the way.

Caroline Bowler

CEO, BTC Markets

Follow me on X (Twitter) or LinkedIn.

Get BTC Markets content delivered

Keep up to date with the latest from BTC Markets. Unsubscribe anytime.Subscribe

Find out the latest crypto news

Weekly Crypto Wrap: 25th July 2024

Weekly Crypto Wrap: 25th July 2024

Read more - Weekly Crypto Wrap: 25th July 2024