Austria And Georgia Elections Show Little Focus On Crypto

According to CoinDesk, politicians in Austria and Georgia did not emphasize cryptocurrency to influence voters in their recent elections, unlike the approach seen in Japan. In Georgia, the ruling Georgian Dream Party secured the most votes, while Austria's far-right Freedom Party won in the parliamentary election. In contrast to other countries, political leaders in Austria and Georgia did not engage in the global crypto policy debate to sway voters. Austria, like other European Union nations, remained quiet on the issue during its recent election. Similarly, Georgia, which holds candidate status in the EU, did not focus on crypto in the lead-up to its election. Countries such as the U.K. and other European nations had already established their regulatory stance on crypto before their elections, minimizing the need for further discussion. The U.S., however, has seen frequent mentions of crypto ahead of its Nov. 5 general election, with exchanges calling for bespoke rules. In Japan, politicians emphasized the need to reform crypto tax before the general election, which resulted in the ruling Liberal Democratic Party's coalition losing its majority. Mark Foster, EU policy lead at the Crypto Council for Innovation, noted that crypto and digital assets policy in the EU is not a partisan issue. This was evident in the EU Parliament election, where no single party focused more on crypto issues. Austria's recent national election saw the far-right Freedom Party win 29.2% of the vote, surpassing the ruling center-right People’s Party, which garnered 26.5%. The Freedom Party's policies centered around immigration and the cost of living, but other Austrian parties have expressed unwillingness to collaborate with it. Consequently, President Alexander Van der Bellen has asked incumbent Chancellor Karl Nehammer to form a new government. Crypto discussions did not play a significant role in the Freedom Party's parliamentary victory. Austria, as part of the EU, is already moving towards enforcing the Markets in Crypto Assets (MiCA) legislation, which will fully come into force in December. Georgia, an EU candidate, implemented regulations requiring crypto companies to register in 2023. In the recent election, voters supported the ruling Georgian Dream Party, which secured around 54% of the vote. The elections were framed as a choice between aligning further with Europe or Russia, with the Georgian Dream Party's victory indicating a move towards the latter. Pro-European opposition parties are disputing the results. The United National Movement (UNM), a political opposition party in Georgia, recently collaborated with Rarilabs to release a new blockchain solution for public administration leading up to the election.