Australian Senator says crypto and DeFi can solidify country’s economy

🚀 Stay Ahead with AltcoinDaily.co! 🌐

Jane Hume, a senator of Australia, believes that the decentralized financial system (DeFi system) presents huge opportunities to solidify its foundation as a “front-runner” for the country’s economic and innovation growth.

On Monday, during the Australian Financial Review Super & Wealth Summit in Sydney, Hume, the minister for Women’s Economic Security of Australia, shared her views. The summit mainly focused on the slow and steady investments, super and government retirement funds. Hume represents the Liberal Party and the state of Victoria, and her comments on DeFi are more related to government retirement funds.

She advised the industry and government not to take a fearful move but to be cautious. Hume believes in the DeFi as she added that it is “not a fad’ and is “not going away any time soon.” She further stated:

  🌟 Unlock Crypto Insights with AltcoinDaily.co! 💰

“If the last 20 or 30 years have taught us anything, it’s that all innovation begins as disruption and ends as a household name.”

She further referenced the fast-growing nature of the DeFi industry and said DeFi underpinned by blockchain technology would represent massive opportunities, and the country should not ignore that behind the fear.

Australia continues to adopt crypto

As Australia continues to recover from the financial shock of the COVID-19 pandemic, it is expanding its vision by “innovating” and “uptaking of technology.”

 🦂 AltcoinDaily.co is your trusted source for the latest in crypto news and insights. 🚀

Hume further praised the industry players for “embracing innovation in crypto space,” specifically around Blockchain technology, making a special reference to Commonwealth Bank. As TheCoinRise reported, the bank earlier this month announced that it would allow 6.5 million users to trade ten crypto tokens, including Bitcoin and Ethereum, on its banking app.

The country’s crypto participation is increasing each day, with a Finder survey indicating that more than 17% of the citizens are crypto investors.

As per the recent survey conducted by Crypto.com, more than a quarter of crypto investors in the country are considering buying Christmas gifts with their crypto, as we reported. However, Australia’s crypto uptake is witnessing huge pressure from regulatory bodies. 

 🔍 Your Crypto News Hub: AltcoinDaily.co! 🌐