Kraken Aus CEO predicts Australia on the brink of a significant turning point in crypto demand

Australia’s cryptocurrency industry has the potential to benefit from the global surge in demand for crypto, as long as the country’s lawmakers make the right decisions, according to a senior executive at Kraken Australia. In an interview with Cointelegraph at the Formula One Grand Prix in Melbourne, Jonathon Miller highlighted the growing interest in spot Bitcoin exchange-traded funds (ETFs), the adoption of stablecoins, and BlackRock’s recent announcement of a $100 million tokenization fund on Ethereum as reasons for optimism in the crypto market. Miller acknowledged that institutional demand for crypto in Australia still lags behind that of the United States, but noted a significant increase in interest from retail investors and crypto-related businesses in the country. He emphasized the need for regulatory clarity and faster progress in legislation to facilitate the growth of the industry. Miller expressed confidence in the positive engagement of his firm with Australian policymakers and called for the government to prioritize the implementation of sensible laws. He also cautioned against overregulation and urged lawmakers to consider the international nature of crypto when drafting legislation.