Australian lawmakers want to make Bitcoin a legal currency

On August 9, Australian lawmakers are working hard to promote Bitcoin as an official currency.

The Sydney Morning Herald reports that representatives of Australia’s centrist and left-wing parties are behind the ambitious plan, which aims to call on the government to better accommodate blockchain technology and its evangelists.

The effort is being led by Liberal Senator Jane Hume and Labor Senator Sam Dastyari, who believe Australia should be more proactive in addressing cryptocurrency and blockchain. The two have formed a group called Parliamentary Friends of Blockchain to advance the issue.

At the same time, the proposal also calls for the Australian central bank to launch its own cryptocurrency.

"This will be a revolutionary leap for the Reserve Bank of Australia and financial institutions and what we have to do in this parliament is to create the political environment to allow that leap," Dastyari told reporters.

This year, the Reserve Bank of Australia revealed it had established an internal working group focused on blockchain technology.

However, not all members of the Australian Parliament (even those involved in blockchain initiatives) are in favor of the idea of ​​expanding cryptocurrency use.

Bill Shorten, leader of the Australian Labor Party, called for tighter controls on Bitcoin in June. The statement could hint at potential opposition.

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