As the struggle for regulatory clarity down under rages on, Binance Australia’s CEO Leigh Travers thinks that such a framework will prove the crypto industry “holds itself to a higher standard” than many believe.
Travers spoke with Cointelegraph on June 14 about the current state of local crypto regulatory efforts and how the opportunities available in the industry are restricted by the lack of clarity.
That lack of clarity was cited as the reason why the Commonwealth Bank of Australia (CBA) has indefinitely postponed a pilot program for its crypto trading services last month. Although there are no rules on the books directly prohibiting CBA’s new service, Australian financial regulators pushed for a pause on the services because of absent consumer protections.
Without the regulations in place to allow such crypto services to operate, they cannot prove their viability.
From Travers’ point of view, the crypto industry is already ahead of traditional financial regulatory regimes for...
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