Australia Stagnating in Crypto Progress, Says Blockchain Australia

Fibo Quantum

BeInCrypto –

Despite still being well-placed in the crypto space, Blockchain Australia told a Senate committee that the country is falling behind its peers globally.

Blockchain Australia said that other countries are moving quickly, and subsequently establishing ‘real success’ in the blockchain space. For Australia, it says, the fundamental challenge has been a lack of guidance. To this end, the country’s leading blockchain association extended its call for regulation around the nascent technology. 

Crypto as ‘Wild West’

Blockchain Australia CEO Steve Vallas told the Senate Select Committee on Australia as a Technology and Financial Centre that blockchain can’t seem to shake its reputation as the “wild west.” According to Vallas, the narrative continues to be pervasive, and that it lingers from the ICO boom of 2017-2018. However, he said that they were resisting that narrative by seeking out clarity with regulators.

This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto

Wood Profits Banner>