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Senator Sees DeFi as Great Opportunity for Australia

Decentralized Finance (DeFi) offers Australia an excellent opportunity to establish itself as a leader in innovation and economic progress. About it stated Australian Senator from Victoria Jane Hume.

At the Australian Financial Review Super & Wealth summit, she noted that the DeFi sector will not disappear anytime soon because it is “not a fad.”

“Backed by blockchain technology, decentralized finance will provide incredible opportunities. Australia should not be left behind for fear of the unknown, ”added Hume.

According to her, the country’s economic future will be determined by innovation and the development of new technologies.

We will remind, the Senator from New South Wales Andrew Bragg expressed hope for the approval of the plan to regulate the cryptocurrency industry in 2022. It was going to be published by the end of October 2021.

In early November, Australia’s Commonwealth Bank announced it would be the first bank in the country to offer customers the ability to buy, sell and store cryptocurrency through its own CommBank app.

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