The Coinbase-backed crypto advocacy group Stand With Crypto has expanded its reach to Australia, aiming to push for regulatory clarity and a crypto-friendly policy environment in the country.
Tom Duff Gordon, vice president of international policy at Coinbase, stated that the primary objective of the new Australian branch of Stand With Crypto is to bring political attention to blockchain use cases and encourage sensible legislation for crypto firms operating in Australia. “We want to change the narrative from crypto just being related to fraud and scams. We want to show people the good use cases, and I think if we have that from a bottom-up grassroots movement as well as top-down advocacy, we can raise the profile of crypto in Australia,” Duff Gordon said.
Speaking at the launch event, Simon Kennedy, a member of the Australian House of Representatives, emphasized that the crypto industry could expect support from the Liberal Party in the lead-up to the country’s federal election in late 2025. “I think you will see the Liberal Party be a big supporter of this sector. I hope it will be bipartisan, but you will see it from us,” Kennedy noted.
Coinbase Australia managing director John O’Loghlen told Cointelegraph that Stand With Crypto would help assist regulators in crafting reasonable policy and make crypto a priority in the Australian regulatory landscape. “It’s really concerning that without the clarity of regulation and necessary signposting, a lot of top talent and young human capital are going to look to start their careers elsewhere,” O’Loghlen stated.
A lack of clarity and slow progress around crypto policy development has been a common pain point cited by many industry leaders. In September, Swyftx CEO Jason Titman remarked that many investors and potential entrepreneurs are “sitting on the sidelines” until market regulations become clearer. He also mentioned the need for basic lexicon and terminology that would fit into existing regulation, particularly under the Australian Securities and Investments Commission’s (ASIC) purview.
The Australian launch follows similar expansions by Stand With Crypto in other countries, including Canada in July and the United Kingdom in May. In the United States, Stand With Crypto lists the pro- and anti-crypto statements made by candidates running for federal, state, and local offices. Most recently, the group focused on supporting pro-crypto candidates in the 2024 US elections, with more than 280 candidates winning seats in the House of Representatives and Senate.
Industry advocates hope that the new Congress and a crypto-friendly US president will help pass pro-crypto legislation, such as the Financial Innovation and Technology for the 21st Century Act, which is slated for a vote in the Senate after passing in the House.