by Rushali 
CEO of advocacy body Blockchain Australia, Steve Vallas has said that Australia’s blockchain and cryptocurrency companies need more support from the federal government and the regulators to boost the confidence of the sector.
On Thursday, while speaking at the Senate Select Committee on Financial Technology and Regulatory Technology, he said that the country has a blockchain base from which they can develop further into the field and his organization is working towards the goal that technology is the thing that people should invest in.
He also said that Australia hasn’t developed much in this field in the last few years. So, the regulators need to be more supportive and have to clarify that they are open to discussion on this matter.
The Senate committee is looking to the potential of the countries development in blockchain technology and what the government is doing after launching the country’s National Blockchain Roadmap in February last year.
The Department of Industry, Science, Energy, and Resources, has launched the road map that sets out expectations of a national strategy aiming to capture blockchain’s value for business-related activity.
Vallas also said that countries like the U.K and the U.S’s regulators are providing more support to the companies that are working with blockchain technology.
