Australia Risks Losing Global Edge as RBA Dismisses Crypto’s Role 😭
Australia may fall behind in the global digital economy due to the Reserve Bank of Australia’s (#RBA ) skepticism toward cryptocurrency. Governor Michele Bullock #dismissed crypto’s role in the economy, branding it an “asset class” rather than “money” at an ASIC forum. Industry leaders like Caroline Bowler of BTC Markets argue this conservative stance overlooks crypto’s transformative potential.
Despite regulatory caution, public interest in crypto is growing, with 27% of Australians considering it a long-term investment. Meanwhile, the U.S., under President-elect Donald Trump, is pivoting toward making the country a global crypto hub. Bowler emphasizes the need for open dialogue, urging Australian regulators to embrace the shift and seize blockchain opportunities.
Is this a bad move? What do you think?
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