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Crypto gains stronger political backing in Australia

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BTC Markets
Crypto gains stronger political backing in Australia

As cryptocurrency gains traction in political discussions, both major parties in Australia are demonstrating stronger support for the digital assets sector. With global regulatory shifts, particularly in the United States, Australia has a crucial opportunity to develop a framework that balances investor protection with industry growth.

The Coalition has pledged to be a ‘friend’ to crypto, promising to prioritise legislation to safeguard digital asset investors and promote growth in the sector. This shift aligns with international trends, where governments, including the U.S. administration, are embracing clearer regulatory pathways to support crypto adoption.

Australian cryptocurrency experts have repeatedly cautioned that the country risks losing its competitive edge, particularly as the U.S. intensifies its focus on digital assets. BTC Markets head of finance, Charlie Sherry, recently told InvestorDaily that while local efforts are underway, they need to accelerate to remain globally competitive.

“We are at a pivotal moment for the sector’s future, requiring decisive action and strategic foresight,” he said. “The global momentum around blockchain, tokenisation, and cryptocurrency cannot be ignored. Over a quarter of Australians already engage with digital assets, viewing them as transparent, inclusive alternatives to traditional systems.”

Speaking to the Australian Financial Review, BTC Markets crypto analyst, Rachael Lucas stressed the importance of timely and proportionate legislation, emphasising that Australia must take a proactive approach to regulation. A clear regulatory framework is essential to encourage innovation while ensuring consumer protection and market integrity. Without well-defined policies, the risk of businesses moving offshore increases, which potentially limits the country’s ability to compete in the global digital assets market.

While Australia has taken steps toward crypto regulation, delays in legislative action have left the industry in a state of uncertainty. The lack of a concrete regulatory framework has raised concerns among investors and businesses, as ambiguity around licensing and compliance could push firms offshore.

BTC Markets advocates for a regulatory environment that supports innovation while maintaining strong investor protections, calling for clearer policies that ensure businesses remain competitive on a global scale. A well-structured legal framework will not only encourage growth within the sector but also provide much-needed confidence to both businesses and consumers. Regulations should reflect the evolving nature of blockchain technology while ensuring compliance measures are not overly restrictive.

With crypto’s role in the financial ecosystem continuing to evolve, Australia is well-positioned to take the lead with a balanced and forward-thinking approach. As political parties recognise the potential of digital assets, BTC Markets remains committed to supporting the development of regulations that benefit both the industry and investors.

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Disclaimer: The information provided on this page is issued by BTC Markets Pty Ltd (BTC Markets, we, us, our). The information is general only and is not intended to constitute an opinion or recommendation with respect to its contents. Past performance is not a reliable indicator of future performance. Any reference to past performance is intended to be for general illustrative purposes only. The information cannot be relied upon for any purposes and is not intended to be a substitute for professional advice.

The information does not purport to be complete, accurate or contain all of the information that a person may require to make a decision. It may also contain forward looking statements, which are subject to known and unknown risks, uncertainties, and other factors. We recommend you obtain professional advice before making any decision with respect to the matters discussed in this document. To the maximum extent permitted by law, BTC Markets will have no liability for any loss or liability of any kind: (i) arising in respect of the information contained (or not contained) on this page; or (ii) arising from a person relying on any information or statement contained on this page. The information provided is only intended for recipients in Australia. This information cannot be reproduced without our prior written permission.

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