The crypto currency sector in Australia sees the upcoming federal elections as a critical period in terms of shaping the sectoral future. The important crypto currency platforms in the country aim to make legal regulations on the sector by increasing their financial donations to political parties. The fact that companies such as SwyftX and BTC Markets contacted political parties and raised their crypto currency arrangements increased their expectations in the sector.
Political donations can provide an advantage in competition
Jason Titan, CEO of Brisbane -based Swyftx, said that informing the government and clarifying legal regulations is important to protect investors. Titman said that the existing regulations in the crypto currency market are insufficient and that investors want net rules.
Caroline Bows, CEO of BTC Markets, one of the leading crypto currency platforms of Australia, stressed that their donations against political parties are recorded. Bows, net laws that will encourage the crypto money market will contribute to the economic development of the country, he said. Coinbase is preparing to explain his plans to donate to the public.
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Crypto Money Sector wants clear arrangements
John Bassilios, Australian legal adviser, said a separate arrangement for crypto currency products that do not match the existing financial laws. Bassilios said that they aim to create arrangements in accordance with the needs of the sector by cooperating with political parties.
The sector representatives expressed their concerns that Australia may fall back to its regional competitors if the regulations remain uncertain. The leading companies of the sector demand that the legal framework of the crypto currency market be clarified by increasing political lobbying activities.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
