Australian Treasurer Advocates Balanced Regulation For Cryptocurrency

According to Odaily, Australian Treasurer Jim Chalmers has emphasized the role of cryptocurrency in modernizing the country's financial system, cautioning against excessive regulation that could hinder its development. He acknowledged the influence of figures like Donald Trump in prompting a reevaluation of the cryptocurrency industry's significance. However, Chalmers also recognized legitimate concerns regarding the use of cryptocurrencies by criminals. His stance appears to contrast with that of Michele Bullock, Governor of the Reserve Bank of Australia, who has previously stated that cryptocurrencies like Bitcoin have no place in Australia's economy or payment systems.