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9 June 2022

Australia’s newly elected Prime Minister, Anthony Albanese has included cryptocurrency regulation as a top priority for his first 100 days in office.

It is expected that Anthony Albanese’s cabinet will continue to support crypto-related policies and reforms for the emerging sector.

Key players in the industry are still optimistic that labour will move in the same direction and focus on consumer protection and transparency.

Caroline Bowler, chief executive officer of BTC Markets said that the primary concern would be to put together the appropriate regulatory regime for the marketplace, but also to leave room for innovation.

Ms Bowler believes that there is a real opportunity for the government to assist with innovation and to support the significant role that financial services play in the Australian economy, but also its position globally.

Recently, the first cryptocurrency exchange-traded funds (ETFs) in Australia started trading. Many analysts of the sector deem this to be a key turning point for the market for digital assets in Australia, if not internationally.