{"id":428426,"date":"2022-04-08T07:32:03","date_gmt":"2022-04-08T04:32:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/aussie-opposition-under-fire-as-election-looms-7-words-is-not-a-crypto-policy\/"},"modified":"2022-04-08T07:32:03","modified_gmt":"2022-04-08T04:32:03","slug":"aussie-opposition-under-fire-as-election-looms-7-words-is-not-a-crypto-policy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/aussie-opposition-under-fire-as-election-looms-7-words-is-not-a-crypto-policy\/","title":{"rendered":"# Aussie opposition under fire as election looms: \u20187 words is not a crypto policy&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3845511680b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3845511680b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/aussie-opposition-under-fire-as-election-looms-7-words-is-not-a-crypto-policy\/#%E2%80%9D_Aussie_opposition_under_fire_as_election_looms_%E2%80%987_words_is_not_a_crypto_policy_%E2%80%9C\" >&#8221; Aussie opposition under fire as election looms: \u20187 words is not a crypto policy&#8217;  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Aussie_opposition_under_fire_as_election_looms_%E2%80%987_words_is_not_a_crypto_policy_%E2%80%9C\"><\/span>&#8221; Aussie opposition under fire as election looms: \u20187 words is not a crypto policy&#8217;  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvYWRiMzJkY2ItMTQ0OS00YzRjLWFjN2MtZjM4M2E3Y2UwZTMwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Australia\u2019s opposition Labor party is facing criticism over its lack of formal policy regarding the cryptocurrency industry just days before a national election is expected to be called<\/p>\n<p>Prime Minister Scott Morrison, from the Liberal Party, is expected to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.dailymail.co.uk\/news\/article-10698219\/Australian-federal-election-2022-Anthony-Albanese-tells-Scott-Morrison-call-poll.html\">fire<\/a> the starters pistol for a Federal election this weekend. However, the Australian Labor Party (ALP) is well ahead in the polls at this stage and their crypto policies are less than comprehensive.<\/p>\n<p>With at least 18% of Australians having invested in crypto at some point according to new figures from Gemini, cryptocurrency is becoming an election issue that cannot be ignored.<\/p>\n<p>Crypto venture capitalist Mark Carnegie said at the Australian Financial Review Cryptocurrency <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.afr.com\/technology\/labor-wants-stronger-consumer-protections-for-crypto-20220407-p5abmx\">Summit <\/a>this week that he believes crypto should be a key talking point for the election candidates. &#8220;The idea that the Labor Party does not have a policy about what we\u2019re doing about this, it just shows you the failure of leadership,&#8221; he said. <\/p>\n<p>Shadow Minister for Financial Services Stephen Jones pushed back against the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>raisal and said that if the ALP won, it would consider crypto in a wider overhaul of digital payments, such as Apple and Google&#8217;s wallets.<\/p>\n<blockquote><p>\u201cThe broad principles we would take to crypto regulation is safety and transparency\u2026 That inevitably leads to greater regulation of exchanges.\u201d<\/p><\/blockquote>\n<p>Jones also said the ALP would look to include cryptocurrency as a financial product, which would bring it under the purview of the Australia Securities and Investments Commission (ASIC). <\/p>\n<p>Responding to the headline of an AFR report on the matter Government Senator Andrew Bragg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ajamesbragg\/status\/1512175490148171787?s=20&amp;t=zb1Am1OX_x7OgR90X8alTQ\">tweeted<\/a>: \u201c7 words is not a crypto policy.\u201d<\/p>\n<p>Senator Bragg headed up an Australian Senate Committee inquiry last year that recommended broad, sweeping reforms in crypto legislation. In December, the government announced it was in favor of six out of nine reformsttee, including a licensing regime for crypto exchanges, laws to govern decentralized autonomous organizations, and a common access regime for new payments platforms.<\/p>\n<p>It is unclear whether the ALP will seek to embrace the proposed reforms if it wins Government. Jones did not respond to a request for comment from Cointelegraph, but we will update the story if he does.<\/p>\n<p>Senator Bragg believes the Opposition is ill-equipped to handle the crypto industry. He told Cointelegraph today that: \u201cSimply put, the Opposition doesn\u2019t have a policy on cryptocurrency.\u201d <\/p>\n<blockquote><p>\u201cLabor has no serious agenda for digital assets other than a few throwaway lines. The Australian people have been given no clue on what Labor\u2019s crypto policy. It\u2019s consistent with their economic plan which is no plan.\u201d<\/p><\/blockquote>\n<p>Senator Bragg added that the ALP&#8217;s lack of clear direction for the crypto industry, meant the country could begin to fall behind other countries vying for skilled workers in the crypto industry.<\/p>\n<blockquote><p>\u201cAustralia risks losing investment and talent to other countries unless we act quickly. The Coalition\u2019s policy puts us ahead of the race, the ALP\u2019s policy void means Australia will lose out.\u201d<\/p><\/blockquote>\n<p>He said that his party\u2019s plan includes holding consultations with industry stakeholders before making any final decisions, but that his cohort is \u201cready to follow through\u201d with action. &#8220;We want a regime for markets and custody, a board of tax review, and a token mapping exercise. All of these programs are currently underway,\u201d he said.<\/p>\n<p>Rather than treating crypto as a financial product, the Liberal plan appears to take an educate-then-incubate approach toward crypto policy.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Aussie convenience store giant to accept crypto at 170 outlets<\/em><\/strong><\/p>\n<p>However, a top-down approach towards regulating emerging or innovative markets has always been questioned by entrepreneurs, as pointed out by Max Parasol in Cointelegraph last October.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/7-words-is-not-a-crypto-policy-aussie-opposition-under-fire-as-election-looms\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Aussie opposition under fire as election looms: \u20187 words is not a crypto policy&#8217; &#8220; Australia\u2019s opposition Labor party is facing criticism over its lack of formal policy regarding the cryptocurrency industry just days before a national election is expected to be called Prime Minister Scott Morrison, from the Liberal Party, is expected to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":428427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvYWRiMzJkY2ItMTQ0OS00YzRjLWFjN2MtZjM4M2E3Y2UwZTMwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[76276,75029,74355,117],"class_list":["post-428426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-payments","tag-lightning-network","tag-adoption","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=428426"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428426\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/428427"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=428426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=428426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=428426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}