How should policymakers respond to this global phenomenon?
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‍Australia is in an arms race on the global stage to embrace digital assets and become a world-leading destination for cryptocurrency.
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Across its 12 year lifespan, crypto has remained largely unregulated. Regulation is now becoming critical.
Policymakers must look toward a clear and comprehensive regulatory framework for digital assets.

This framework needs to protect Australian consumers, promote investment and provide market stability.
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The crypto community has itself recognised the need for regulatory reform to give the sector the credibility and validity it needs.
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The Select Committee on Australia as a Technology and Financial Centre tabled its Final Report in October, laying down a plan to put Australia at the top of the list for digital assets. 

Key principles of the report:
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- Regulation should protect consumers using cryptocurrency just like it would for a financial product.

- Australia cannot turn its back and pretend that this innovation isn’t happening.
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Australia should be ambitious. With a robust regulatory framework, Australia can attract more jobs, investment and consumer benefits to become a global leader in cryptocurrency.