Coinbase launches Stand With Crypto advocacy group in Australia

Stand With Crypto expands to Australia “We want to alter the narrative from crypto simply being related to scams and rip-offs. A lack of clearness and sluggish development around crypto policy development is a typical discomfort point cited by lots of national crypto market leaders.In September, Swyftx CEO Jason Titman informed Cointelegraph that would-be entrepreneurs and many investors are “sitting on the sidelines” up until guidelines around the market are clearer. Source: Stand With CryptoIndustry advocates say that the new Congress and a crypto-friendly United States president could help push through pro-crypto legislation like the Financial Innovation and Technology for the 21st Century Act, which is slated for a vote in the Senate after passing in the House.Magazine: ETHSafari brings crypto world to Africa, and Africa to the crypto world

The Coinbase-backed crypto advocacy group Stand With Crypto has actually broadened to Australia as part of a more comprehensive move to promote regulatory clearness and crypto-friendly policy in the nation. Tom Duff Gordon, vice president of global policy at Coinbase, stated the overarching objective of the new spin-off of Stand With Crypto is to bring political attention to the myriad use cases of blockchain and motivate “practical” legislation for crypto firms operating in Australia. Stand With Crypto expands to Australia “We desire to change the story from crypto just being associated with fraud and scams. We wish to reveal individuals the great use cases, and I think if we have that from a bottom-up grassroots movement as well as top-down advocacy, I believe we can raise the profile crypto in Australia,” Duff Gordon said. Tom Duff Gordon speaking at the Stand With Crypto launch event. Source: CointelegraphSpeaking at the occasion, Simon Kennedy, a member of the Australian House of Representatives, stated the crypto industry could expect to see assistance from the Liberal Party in the lead-up to the nations federal election in late 2025. ” I believe you will see the Liberal Party be a big advocate of this sector. I hope it will be bipartisan, however you will see it from us,” Kennedy stated. Australian crypto supporters press for clarityCoinbase Australia managing director John OLoghlen informed Cointelegraph that Stand With Crypto would assist take up the mantle of helping regulators in crafting affordable policy and assisting to make crypto a priority in the Australian regulatory landscape. ” Its truly worrying without the clearness of policy and required signposting, a lot of top talent and young human capital are going to look to start their professions in other places,” said OLoghlen. A lack of clearness and sluggish progress around crypto policy advancement is a common pain point mentioned by many nationwide crypto market leaders.In September, Swyftx CEO Jason Titman told Cointelegraph that prospective entrepreneurs and numerous financiers are “sitting on the sidelines” until regulations around the marketplace are clearer.” Weve also been requesting assistance on … standard lexicon and glossary of terms that would fit into current policy, especially under ASICs province of digital native terms,” Titman stated.” When you recall to the Howey Act and other tests that are implemented overseas, a few of this guideline is 80 to 90 years old and relates to market an orange grove and refers to asset classes and technologies that are quite gotten rid of from modern-day Australia,” added OLoghlen. Related: After United States election wins, the crypto market seeks to the 2026 midtermsCrypto supporters promote clarityStand With Crypto released in Canada on July 12, following a similar rollout in the United Kingdom in May. In the United States, Stand With Crypto lists the pro and anti-crypto declarations numerous potential candidates for federal, state and local offices have actually made. Most recently, it focused much of its efforts on encouraging users to support crypto-friendly prospects in the US elections. The advocacy group reported that more than 280 pro-crypto candidates running for the US House of Representatives and Senate won seats in the 2024 elections. Over 270 Crypto-friendly candidates won a seat in your home and Senate in the 2024 US elections. Source: Stand With CryptoIndustry advocates say that the new Congress and a crypto-friendly US president could assist push through pro-crypto legislation like the Financial Innovation and Technology for the 21st Century Act, which is slated for a vote in the Senate after passing in the House.Magazine: ETHSafari brings crypto world to Africa, and Africa to the crypto world

Other Questions People Ask

What is the purpose of the Stand With Crypto advocacy group launched by Coinbase in Australia?

The Stand With Crypto advocacy group aims to promote regulatory clarity and encourage crypto-friendly legislation in Australia. By highlighting the positive use cases of blockchain technology, the group seeks to shift the narrative surrounding cryptocurrency away from scams and fraud. This initiative is designed to engage both grassroots movements and top-down advocacy to elevate the profile of crypto within the country.

How does Stand With Crypto plan to influence crypto regulation in Australia?

Stand With Crypto plans to influence crypto regulation in Australia by collaborating with regulators to craft reasonable policies that support the industry. The group emphasizes the need for clear guidelines to prevent talented individuals from leaving Australia for more favorable environments. By advocating for a standard lexicon and modern regulatory frameworks, they aim to facilitate a more conducive atmosphere for crypto innovation.

What challenges does the Australian crypto industry face that Stand With Crypto aims to address?

The Australian crypto industry faces challenges such as a lack of regulatory clarity and slow progress in policy development. Many industry leaders have expressed concerns that these issues are causing potential entrepreneurs and investors to remain inactive. Stand With Crypto aims to address these challenges by advocating for clearer regulations and promoting the benefits of blockchain technology to lawmakers.

What support can the crypto industry expect from Australian political figures regarding Stand With Crypto?

Political figures like Simon Kennedy from the Liberal Party have indicated that they will support the crypto industry as it prepares for upcoming federal elections. Kennedy expressed hope for bipartisan support, suggesting that the Liberal Party will actively advocate for pro-crypto policies. This political backing is crucial for advancing legislation that fosters a favorable environment for cryptocurrency in Australia.

How does Stand With Crypto's expansion to Australia compare to its initiatives in other countries?

Stand With Crypto's expansion to Australia follows similar initiatives in Canada and the United Kingdom, where it has also sought to promote regulatory clarity. In the U.S., the group has focused on supporting pro-crypto candidates in elections, resulting in significant victories for crypto-friendly representatives. This consistent approach across different regions highlights Stand With Crypto's commitment to advocating for favorable conditions for the cryptocurrency industry globally.