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Statement on the Treasurer's Tech Plan

The Treasurer Josh Frydenberg has put Australia on the tech map.

Australia will be a world-leading crypto hub under the Treasurer’s plan. Australian consumers will also benefit from new consumer protection rules. 

The world is watching Australia which is now setting the global standard for crypto, payments and digital wallet reform. 

These are key micro economic reforms which will drive more choice and lower prices for Australians. 

This will be a key driver of investment and jobs over the next decade. 

It is high time that the Treasury reclaims the payments policy mantle.

The Australian Government, not Silicon Valley, or Shenzhen or the RBA should run Australia’s payments policy. Now we are back in control of payments policy. 

I am very pleased that both the recommendations from the Senate Inquiry into cryptocurrency and the Farrell Review of payments have been adopted.

I want to thank all the industry leaders who made significant contributions to the Senate report. All Australians will benefit from your efforts. It was a privilege to chair this Committee. 

No other Treasurer or Finance Minister has been as involved in this dynamic but critical space as Mr Frydenberg has been. I thank him for his leadership.

[Ends]

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