The Coinbase-backed crypto advocacy group Stand With Crypto has expanded to Australia as part of a broader move to push for regulatory clarity and crypto-friendly policy in the country.
Tom Duff Gordon, vice president of international policy at Coinbase, said the overarching goal of the new offshoot of Stand With Crypto is to bring political attention to the myriad use cases of blockchain and encourage “sensible” legislation for crypto firms operating in Australia.
Stand With Crypto expands to Australia
“We want to change the narrative from crypto just being related to fraud and scams. We want to show people the good use cases, and I think if we have that from a bottom-up grassroots movement as well as top-down advocacy, I think we can raise the profile crypto in Australia,” Duff Gordon said.
Tom Duff Gordon speaking at the Stand With Crypto launch event. Source: Cointelegraph
Speaking at the event, Simon Kennedy, a member of the Australian House of Representatives, said the crypto industry could expect to see support from the Liberal Party in the lead-up to the country’s federal election in late 2025.
“I think you will see the Liberal Party be a big supporter of this sector. I hope it will be bipartisan, but you will see it from us,” Kennedy said.
Australian crypto advocates push for clarity
Coinbase Australia managing director John O’Loghlen told Cointelegraph that Stand With Crypto would help take up the mantle of assisting regulators in crafting reasonable policy and helping to make crypto a priority in the Australian regulatory landscape.
“It’s really concerning without the clarity of regulation and necessary signposting, a lot of top talent and young human capital are going to look to start their careers elsewhere,” said O’Loghlen.
A lack of clarity and slow progress around crypto policy development is a common pain point cited by many national crypto industry leaders.
In September, Swyftx CEO Jason Titman told Cointelegraph that many investors and would-be entrepreneurs are “sitting on the sidelines” until regulations around the market are clearer.“We’ve also been asking for guidance on … basic lexicon and glossary of terminology that would fit into existing regulation, particularly under ASIC’s purview of digital native terminologies,” Titman said.
“When you look back to the Howey Act and other tests that are enforced overseas, some of this regulation is 80 to 90 years old and relates to market an orange grove and refers to asset classes and technologies that are quite removed from modern-day Australia,” added O’Loghlen.
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Crypto advocates push for clarity
Stand With Crypto launched in Canada on July 12, following a similar rollout in the United Kingdom in May.
In the United States, Stand With Crypto lists the pro and anti-crypto statements many prospective candidates for federal, state and local offices have made.
Most recently, it focused much of its efforts on encouraging users to support crypto-friendly candidates in the US elections. The advocacy group reported that more than 280 pro-crypto candidates running for the US House of Representatives and Senate won seats in the 2024 elections.
Over 270 Crypto-friendly candidates won a seat in the House and Senate in the 2024 US elections. Source: Stand With Crypto
Industry advocates say that the new Congress and a crypto-friendly US president could help push through pro-crypto legislation like the Financial Innovation and Technology for the 21st Century Act, which is slated for a vote in the Senate after passing in the House.
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