Australian Senator Jane Hume grants support to DeFi

Australian Senator Jane Hume grants support to DeFi

PEOPLE | Nov 23, 2021 | WOZINGA NEWS

Australian Senator Jane Hume grants support to DeFi

  • Senator Jane Hume said, “DeFi is here to stay.”

By Marielle Petere Wozinga Staff

Australian Senator Jane Hume grants support to DeFi

Jane Hume, Australian Senator, commented about how the DeFi industry prospers and offers opportunities for economic stability. 

During the Australian Financial Review Super and Wealth Summit, held in Sydney on November 22, Senator Hume has encouraged the government to recognize “DeFi is not a fad.”

Yes to DeFi

Senator Hume is the minister of Women’s Economic Security of Australia. She is also a representative of the Liberal Party and in the State of Victoria.

In Senator Hume’s speech during the conference, she stated: “Australia must adopt the emerging DeFi sector and should not project reluctance when it comes to embracing new technological innovations.” 

“Decentralized finance underpinned by blockchain technology will present incredible opportunities – Australia mustn’t be left behind by fear of the unknown,” she added, according to Business Insider Australia

Australia’s steps for digital assessts

DeFi space has increased with a $250 billion market. A survey revealed that Bitcoin has remained popular in the Australian Market. 

Likewise, Kraken conducted a survey stating that about 40% of Australians have favored cryptocurrency assets. Based on a report, several Australians have considered digital currency as an alternative profitable investment for the long-term.

Australia has exhibited progressive and strategic approaches in dealing cryptocurrency and blockchain technology. In early November, a new legislature passed has permitted the authorities to seize any cryptocurrencies linked to cybercrime. 

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