Government Still Sees Blockchain As “Wild West” Says Blockchain Australia

Blockchain Australia is displeased with the way its government is treating the crypto industry locally. According to the association, the government is judging the industry through malicious scammers and actors who’re tarnishing its image through their activities. Blockchain Australia believes that the authorities should engage with the industry to develop regulations that’ll fit all purposes. Blockchain Australia Engages The State There has been a lot of discussions between the association and the State in recent times. The Australian government has been reviewing the importance of the blockchain & Fintech industry to its national goals and also looking into crypto regulations. Related Reading | Vitalik Buterin Urges Ethereum To Grow Beyond DApps Last week, the CEO of Blockchain Australia, Steve Vallas, appeared before the Senate Committee in charge of the “Australia as a Technology & Financial Centre.” During the meeting, Vallas stated that the association doesn’t agree with the assertions that the crypto industry is “a wild west.” He also mentioned that they have been eager to sit down with regulators and create an all-purpose regulatory framework for the industry. Vallas went ahead to trace the ICO boom from 2017 to 2018 and accused the government of not showing interest in the industry. According to the CEO, there’s no appetite for Initial Coin Offerings in the countr...