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FTX CEO announces to launch FTX Australia, Aussie Senator says country “open for crypto business”

FTX CEO delivers the opening lecture during this year’s Blockchain Week, which was held at the Australian Securities Exchange’s headquarters (ASX).

Bankman-Fried used his keynote from the Bahamas to announce the launch of FTX Australia, localising one of the world’s largest crypto exchanges by volume. The event naming rights are sponsored by FTX.

According to Bankman-Fried, the Australian launch is part of a bigger push to have the exchange registered and regulated in as many nations as possible.

He stated that the globe is “very much” searching for a regional crypto hub in APAC, as other areas in the region “haven’t played out as predicted.”

Australia is attempting to position itself as a crypto centre, with Senator Jane Hume, the Federal Minister for Financial Services and the Digital Economy, claiming that the country is “open for business” when it comes to cryptocurrency.

Her remarks reflected those of her colleague, Senator Andrew Bragg, who delivered the conference’s opening remarks. Bragg used his address to present a proposal for legislation in Australia to alter regulations for decentralised autonomous organisations (DAOs), de-banking, taxes, and crypto business licensing.

Comparing the crypto boom to the internet boom of the late 1990s, Hume indicated that the digital asset economy may add roughly 2.6 percent to Australia’s GDP and create over 200,000 new employment by 2030, but warned that Australia could “lose out” if the wrong regulatory framework is implemented.

On a two-party preferred basis, the current government is a full ten points behind the opposition, according to the most recent opinion poll. A federal election in May could threaten Senators Bragg and Hume’s intentions, but a pro-crypto posture could be the government’s re-election strategy, moving younger voters towards the coalition.

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