Australia Risks Losing Global Edge as RBA Dismisses Crypto’s Role 😭

Australia may fall behind in the global digital economy due to the Reserve Bank of Australia’s (#RBA ) skepticism toward cryptocurrency. Governor Michele Bullock #dismissed crypto’s role in the economy, branding it an “asset class” rather than “money” at an ASIC forum. Industry leaders like Caroline Bowler of BTC Markets argue this conservative stance overlooks crypto’s transformative potential.

Despite regulatory caution, public interest in crypto is growing, with 27% of Australians considering it a long-term investment. Meanwhile, the U.S., under President-elect Donald Trump, is pivoting toward making the country a global crypto hub. Bowler emphasizes the need for open dialogue, urging Australian regulators to embrace the shift and seize blockchain opportunities.

Is this a bad move? What do you think?

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#crypto2024

Central Banks Hint at Rate Cuts Amidst a Surge in Dovish Sentiment👀
A quiet 24 hours in markets with risk-sentiment still largely buoyed, with the BoE's chief economist latest to signal a potential dovish pivot signaling that mid-2024 might be time for rate cuts (Pill said pricing for aa first rate in August 2024 - "doesn't seem totally unreasonable, at least to me... It is at that point you might consider or reassess, if nothing new has happened, where we are going to have to be"). The RBA also executed their own version of a 'dovish hike' by releasing an accompanying statement on "whether further tightening of monetary policy is required", kicking off an antipodean and european rates rally early in the morning.
#DovishPivot #RBA #MonetaryPolicyTightening #InterestRateRally #MarketRiskSentiment

#RBA to test #cbdc use cases with Mastercard and others🔶

The RBA’s partners for the pilot projects include the Australia and New Zealand Banking Group Limited (ANZ), Mastercard, Monoova, the Australian Bond Exchange, DigiCash, Commonwealth Bank and others.
#keepbuilding #BNB