Despite information in February suggesting that 2 million Pro-Crypto voters could decide on the outcome of the Australian federal elections this week, Crypto barely evaluated a mention during the campaign.
“I think this is a missed opportunity,” said Cointelegraph, the founder of the Independent Reserve, Adrian Przelozny. “None of the parties has made crypto a title problem because they are wary of the polarization of voters or to ring too much niche.”
But the good news is that after more than a decade of inaction, the Australian Labor Party (ALP) in power and the Liberal Party of the opposition promise to promulgate cryptographic regulations developed in consultation with industry.
In April, the shadow treasurer Angus Taylor promised to publish the cryptographic regulatory project in the first 100 days after his entry into office, while the Treasury himself has law on “regulations of digital asset platforms” and “modernization of the payment system” provided for publishing this quarter.
Amy-Rose Goodey, CEO of Digital Economy Council of Australia, said that both parties “are also invested in ensuring that this line bill”.
“Regardless of who is between, we are in better position than about a year ago.”
Pro -Crypto voters also have choices in the Senate, the libertarian party issuing a 23 -page bitcoin policy in March – calling for the creation of a Bitcoin National Reserve (BTC) and the acceptance of Bitcoin as a legal call.
The minor party presents five candidates in the Senate in different states, including the former liberal deputy Craig Kelly, but currently has no one in the Senate.
The Progressive Left Greens Party has not described a position on the crypto, while the right -wing conservative party has campaigned against Debanking and CBDCS.
More than a decade of inaction on crypto
The first parliamentary survey of Australia on digital assets was retained in 2014, but there have been more than a decade of regulatory inaction since. The industry claims that this has led to stagnation and a brain effort to jurisdictions like Singapore and water.
The former liberal government envisaged the law on historic digital services, on the basis of the cryptographic recommendations of the 2021 Senate committee, when it lost its functions in 2022. Despite current consultations, the government of the ALP, led by Prime Minister Anthony Albanese, has not implemented any legislation in Parliament.
But there was certainly a change of atmosphere of the ALP recently, the treasurer Jim Chalmers saying at Cointelegraph that digital assets “represent great opportunities for our economy”.
“We want to seize these opportunities and encourage innovation at the same time as ensuring that Australians can use and invest in digital assets in complete safety and safe with appropriate regulations.”
His office said that the exposure bill would be published “in 2025” for consultation, introduced to the Parliament “once the comments have been taken into account” with the subsequent reforms “progressive over time to minimize the disturbances of existing companies”.
Deputy Treasurer of the Shadow, Luke Howarth, said that the ALP had been slow to act because he had no blockchain policy when he was elected.
“It is only when the FTX collapses that they recognized the need for regulation,” he told Cointelegraph. “The Albanian government initially promised that it would set up regulations by 2023, but has failed to write legislation or give a clear time for action. After three years, everything that was offered to industry was a six -page reserved space document. ”
He refers to the Treasury March declaration “on the development of an innovative Australian digital asset industry”. It provides for the license of digital asset platforms (DAPS), a framework for payment stalls and an examination of the improved regulatory tank of Australia.
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Although they lack details, these objectives are largely similar to the priorities of the cryptographic regulation that Howarth describes at Cointellegraph – the big difference being that the opposition was committed within a faster time.
Przelozny praised the promise of 100 days as “exactly the kind of emergency we need”.
If it is elected, the legislation of the Liberal Party should take some of its clues from the private bill of Senator Andrew Bragg in 2023 and some of the most recent works carried out by the Treasury.
The government intensifies efforts
The treasure has been quietly written legislation this year, what Goodey understands is “almost complete”.
“There was prioritization within the treasure, and I know that their team has almost doubled – the digital asset team – for writing this draft legislation. There has therefore been an investment in this in the last six months. ”
Przelozny characterizes the approach of the ALP as “prudent and methodical, but it was slow”, prioritizing consumer protection and risk management.
BTC Markets CEO Caroline Bowler said that the election of a pro-Crypto Trump administration and the United Kingdom Regulation (published this week) have probably forced the two sides of the policy to finally become serious.
“Australia has ground to catch up, and I foresee that this is also a factor in the wise movement of both parties,” she said.
Stay with a cryptographic campaign and asic
The stand with Crypto is active in Australia but was quite discreet during the campaign, emphasizing the gambling.
Coinbase director general for Apac John O’loghlen called anyone who won the election to launch a “Crypto-Asset Working Group (CATF) in the first 100 days”. This would include representatives of industry and consumers to finally obtain cryptographic regulations above the line.
“If Australia is not moving now, we risk getting even more delay,” he told Cintelegraph.
“The next government must go beyond consultation and legislation.”
The Australian Securities and Investments Commission (ASIC) is the local equivalent of the US Securities Exchange Commission (SEC). He published his own cryptographic regulatory proposals in December.
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Joy Lam, head of the Global Regulation of Binance and Legal of Apac, told Cintelegraph that she would not expect the ASIC suddenly changing management if a new government arrives, as the dry has done.
“Asic does not make the law,” she said. “I do not expect a complete type of 180 because the ASIC, it is independent, and it has its own mandate, but it obviously operates within the legislative framework that the government will establish.”
Who should return to crypto to review unique?
In February, a Yougov and Swyftx survey found that 59% of crypto users would vote for a pro-Crypto candidate in the federal elections above all other questions. This is equivalent to around 2 million Australians and would be sufficient to determine the result of the elections in one direction.
But the similarities between the main parts on the regulation of cryptography are much more important than the differences. Goodey said the two sides of politics have really joined the industry about its concerns and priorities.
“You can see in a part of the language with their media outings that they both published in March, April of this year, that they agree on industry problems,” she said.
Due to Senator Bragg’s campaign on Crypto, the industry considers the Liberal Party as more enthusiastic about digital assets, but after three years of government, the ALP seems to be roughly in the same place.
Recent Yougov and Resolve polls suggest that the government is likely to be re -elected.
Although internal liberal polls suggest that a minority government of the ALP is a real possibility, the main parties would have enough votes between them to adopt the cryptographic bipartite legislation.
Whatever happens, 2025 seems that the year of Australia will finally provide the cryptography industry the certainty it needs.
“For industry, timing is really very critical, because obviously it is something that has been discussed and launched for several years,” said Lam.
“I would say that we are cautiously optimistic.”
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