Australian Senator Jane Hume says we need to acknowledge that cryptocurrency is not a fad, adding that there are huge opportunities in decentralized finance (defi). “We should tread cautiously, but not fearfully,” she said, emphasizing that “Australia mustn’t be left behind by fear of the unknown.”
Australian Senator Says Crypto Is Not Going Away, Sees ‘Incredible’ Opportunities in Defi
Australian Senator Jane Hume talked about cryptocurrency and decentralized finance (defi) Monday during her speech at the Australian Financial Review Super & Wealth Summit in Sydney.
Hume is Australia’s minister for superannuation, financial services, and the digital economy. She is also the country’s minister for women’s economic security.
Referencing a recent Australian Senate Committee report that claims 17% of Australians are investing in cryptocurrency, Hume stressed: “This is an asset class that has captured hearts and minds, but beyond that — whatever you might personally think — it’s a technology that’s not going away any time soon.”
The senator emphasized:
So as an industry, and as a government, we need to acknowledge this is not a fad. We should tread cautiously, but not fearfully.
This was not the first time Hume said cryptocurrency is not a fad. In May, she similarly stated: “I would like to make something clear: cryptocurrency is not a fad. It is an asset class that will grow in importance.”