Orhan 
The crypto advocacy group Stand With Crypto, supported by Coinbase, has accelerated its activities in Australia, aiming to raise awareness among policymakers about the benefits of blockchain technology.
This new expansion seeks to promote cryptocurrencies nationwide and provide the local crypto industry with a more transparent regulatory framework.
Blockchain Awareness in Australia
Tom Duff Gordon, Coinbase’s Vice President of International Policy, stated that the primary goal of the Stand With Crypto initiative’s expansion to Australia is to highlight the positive applications of blockchain. Emphasizing that associating blockchain solely with fraud is a misconception, Gordon suggested that a clearer regulatory structure could encourage young talent to engage with the industry. Simon Kennedy, a member of Australia’s House of Representatives, also expressed support for this initiative, noting that the Liberal Party aims to develop policies that will foster the growth of the sector.
Calls for Clarity and Regulations from Crypto Advocates
John O’Loghlen, General Manager of Coinbase Australia, mentioned in an interview with Cointelegraph that the lack of clarity in regulations creates uncertainty in the industry. This ambiguity could drive many skilled individuals aspiring to specialize in crypto and blockchain technology to seek opportunities abroad. To eliminate regulatory uncertainty and ensure the sector’s security, crypto advocates believe that Australia needs a more inclusive approach to crypto regulations.
Industry representatives stress that developed countries like Australia require modern regulations compatible with cryptocurrencies. For instance, outdated rules like the Howey Test in the U.S. do not fully align with innovative technologies such as digital assets and blockchain. Therefore, implementing modern regulations tailored to the crypto industry in Australia could reduce uncertainty and boost investor confidence.
Global Impact of Stand With Crypto
Stand With Crypto has also maintained significant advocacy efforts in the U.S., playing an essential role in supporting crypto-friendly candidates. For example, several candidates running for seats in the U.S. House of Representatives and Senate have gained attention for their pro-crypto stances and received backing from advocacy groups. Additionally, Stand With Crypto continues to push for the passage of crypto-friendly legislation, such as the Financial Innovation and Technology for the 21st Century Act.
This new initiative launched by Stand With Crypto in Australia is seen as a step toward broader societal acceptance of blockchain technology. Supporting crypto-friendly policies and highlighting the positive contributions of blockchain are viewed as significant developments for the future of cryptocurrencies in Australia.
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