Australian election will bring pro-crypto laws either way
The Australian Federal Election has seen minimal focus on cryptocurrency, despite 2 million pro-crypto voters potentially influencing the outcome. Both the ruling Labor Party and the opposition Liberal Party are now promising to develop crypto regulations. The Liberal Party's Shadow Treasurer has committed to draft regulations within 100 days of taking office, while the Treasury plans to release bills on digital asset regulation soon. The industry has faced over a decade of regulatory inaction, leading to talent migration. The ALP government has been slow to act, with recent promises for legislation by 2025. The crypto sector is cautiously optimistic about bipartisan support for regulation, with both major parties showing engagement with industry concerns. The upcoming election results could significantly impact the timeline for establishing a regulatory framework for digital assets in Australia.
