The crypto industry has called on Australia’s reelected government to make good on its promises and prioritize crypto legislation early in its new term.
The Australian crypto industry has called on the newly reelected Labor government to urgently make digital asset legislation a top priority to ensure Australia doesn’t fall further behind global markets.
The incumbent Australian Labor Party was returned in a landslide on May 3, picking up 54.9% of the two-party-preferred vote, against the Liberal and National Parties on 45.1%. Both parties went to the election promising crypto law reform, but only the opposition pledged to deliver draft legislation within 100 days.
Coinbase managing director for APAC John O’Loghlen said on May 5 the reelected Albanese Government has the “opportunity and the responsibility to move quickly on this issue” and called for a Crypto-Asset Taskforce to be established within its first 100 days “with the aim of bringing forward legislation that protects consumers, promotes innovation, and stops the exodus of talent and capital to other markets.”
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