In current news of cryptocurrency, Sam Bankman-Fried (SBF), the CEO of FTX mentioned that the entire world is waiting with bated breath for a crypto hub in APAC. He also added how other locations have failed to play it out. In his opening keynote speech at the Blockchain week, Sam Bankman-Fried talked about the launch of FTX Australia.
The CEO gave a speech at the newly established Blockchain Week conducted at the Australian Securities Exchange headquarters. He addressed the event from the Bahamas, remotely, and used this opportunity to talk about launching FTX Australia pretty soon. The main aim of the project is to localize the largest crypto exchange in the world by volume. FTX was the naming rights sponsor for the entire event.
Sam said, “This is something that has been in the works for a number of months, and it’s been a really high priority for us as a company.” According to Bankman-Fried, the launch in Australia is part of a larger movement for the exchange to be licensed and regulated in as many countries as possible.
He also went on ahead to mention how the world is ready for a proper regional hub in APAC for the crypto community. He stated that other regions haven’t been playing out as much as one would expect. “I think that has really left an opening for someplace to kind of grab that and service that region,” he added.
Australia All Set to Market Itself As a Crypto Hub
Australia is slowly building its pace on establishing itself as the proper crypto hub for the community. There have been several comments that have been made by the Federal Minister for Financial Services & Digital Economy, Senator Jane Hume. The Senator said that the country is very much ready to accept business transactions with cryptocurrency.
Australia is looking to market itself as a crypto hub, with comments from the Federal Minister for Financial Services and the Digital Economy, Senator Jane Hume, stating that the country is “open for business” when it comes to cryptocurrencies.
Giving her address at the conference, Hume said that the crypto ecosystem is the new frontier, adding: “If you want to be a pioneer on the virtual frontier of innovation, Australia is open for business. As the Minister for the digital economy and the Minister for financial services, I personally am backing you.”
The comments echoed those of her colleague, Senator Andrew Bragg, who provided the opening address to the conference. Bragg used his speech to announce the proposal of legislation to reform regulations for decentralized autonomous organizations (DAOs), de-banking, taxes, and licensing for crypto firms in Australia.
Comparing crypto to the internet boom in the late 1990s, Hume stated that the digital asset economy could add around 2.6% to Australia’s GDP and create around 200,000 new jobs by 2030, and warned that Australia could “miss out” if the incorrect regulatory framework is applied.
“We want to encourage innovation in crypto assets because innovation is what creates prosperity, it’s what creates jobs and economic growth.” “There are so many innovative use cases for crypto assets, many of which are now not at all far away from becoming mainstream,” she added.
The current news of cryptocurrency states that in the latest opinion poll the current government is sitting a full 10 points behind the opposition on a two-party preferred basis. A looming federal election in May might jeopardize the plans of Senators Bragg and Hume, but a pro-crypto stance could be the governments’ strategy for re-election, swaying younger voters towards the coalition.
Other speakers of note at day one of the five-day event Blockchain Week include Kris Marszalek, CEO of Crypto.com, Leigh Travers, CEO of Binance AU, Brooks Entwistle, SVP of Global Customer Success and Managing Director of APAC and MENA at Ripple, and Joseph Lubin, Co-founder of Ethereum.
Also Read: Block Earner: An Australian Fintech Company will Provide Fixed-rate Defi to the General Public
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