Bitcoin is back. But Australia is lagging on crypto innovation
Recent comments from Reserve Bank of Australia governor Michele Bullock at the Australian Securities and Investments Commission annual forum cast doubt on the role of cryptocurrencies in Australia’s financial future.
Bullock’s assertion that digital assets such as bitcoin are “not money” but “some sort of asset class” reflects a conventional view that misses the larger, transformative potential of cryptocurrencies and blockchain technology. That a more open-minded approach is needed is underlined by looking at developments overseas.
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