Australian lawmakers seek official recognition bitcoin

A group of Australian lawmakers is seeking official recognition of bitcoin. This is written by The Sydney Morning Herald.

According to the publication, according to some legislators, the global competitiveness of the entire Australian financial industry is at stake, and if the initiative is not supported, the country risks losing $ 145 billion annually.

In particular, this initiative is being actively promoted by Sam Dastjari, the senator of the Australian Labor Party and the representative of the Liberal Party, Jane Hum, who even formed a group called Parliamentary Friends of Blockchain.

So, according to Dastjari, the digital currency has become a serious participant in the world of finance. Consequently, if Australia does not create its own digital currency and the development of block-technologies, it risks being on the margins of social and economic progress.

In addition, the senator urged the Reserve Bank of Australia to consider the possibility of launching its own crypto currency:

"This would be a revolutionary step for the Reserve Bank and the Australian financial institutions. What we want to do here in the parliament is to create a political environment that will make this step possible, "Sam Dastiary said during an interview with a local newspaper.
According to Ronald Tucker, head of the Australian Digital Currency Commerce Association, the financial system of the country will receive undeniable advantages from the widespread introduction of technology of blocking:

"It will become an auditor's dream, as you can see every transaction," Tucker said.
However, it should be noted that not all Australian lawmakers support initiatives related to the development of distributed registry technology and the crypto currency area. Earlier, the head of the Australian Labor Party Bill Shorten called for more stringent control over the circulation of crypto-currency.

On the other hand, this year the Reserve Bank of Australia has set up a working group specializing in exploring the possibilities of distributed registry technology.