At this year’s blockchain week, the Chief Executive Officer and founder of FTX, Sam Bankman-Fried, delivered the opening keynote while day one of the events was held at Australian Securities Exchange (ASX) headquarters.
Bankman-Fried, who was addressing the event remotely from the Bahamas, declared the launch of FTX Australia and localized one of the world’s cryptocurrency exchange platforms by sheer volume. As for the Australia Blockchain week event, FTX is the naming rights sponsor.
The official launch of FTX in Australia, according to Bankamn-Fried, is part of the larger movement for the crypto exchange platform. With the help of the Australian branch, FTX became one step closer to being able to license and regulate cryptocurrencies through their platform in as many countries as possible. According to him, there is a gap in the Asia-Pacific region that needs to be filled, and FTX has taken the first step to offer its services in the said region.
The comments from the digital economy Senator and the Federal Minister of Financial Services Jane Hume stating that the country is open for business regarding cryptocurrencies indicate that this country represents itself in the market as a crypto hub.
While addressing the event, the digital economy Senator of Australia stated that anyone who wants to be involved in the cryptocurrency business and become a frontier in the virtual innovation market could come to Australia for business and development.
In the same event, another Senator and colleague of Jane Hume, Senator Andrew Bragg, while providing an opening address in the conference, talked about the DSA act that will help the government regulate the de-banking, Decentralized Autonomous Organizations (DAOs), licensing of crypto companies and taxes.
Hume, in her speech, compared the cryptocurrency with the internet boom in the 1990s and stated that this digital asset can create around 200.00 jobs for the country as well as add 2.6 percent to the total GDP of Australia by the year 2030. She also stated that if any wrong regulatory framework is applied by the government, then Australia will definitely miss this opportunity.