Up to $40 billion a year (AU$60 billion), could be added to Australia’s national GDP with the right regulatory framework and could lead to enormous cost savings for consumers and businesses according to a new report.
The Nov. 29 Digital assets in Australia
The report aims to help the government regulate the sector in a way that enables innovation while protecting consumers, and follows a promise from a spokesperson of Australian Treasurer Jim Chalmers — prompted by the downfall of FTX — that regulations would be coming in 2023 which aim to protect investors while still promoting innovation.
According to a Nov. 14 report from the Australian Financial Review (AFR), 30,000 Australian investors and 132 companies have funds locked up with FTX.
