FTX CEO Sam Bankman-Fried hosted the opening of this year’s Blockchain Week, with day one events held at the Australian Securities Exchange (ASX) headquarters.

Bankman-Fried spoke at a remote event from the Bahamas using his keynote to announce the launch of FTX Australia, positioning one of the world’s largest cryptocurrency exchanges by volume. FTX is the naming rights sponsor for the event.

“This is something that has been worked on for months and has been a top priority for us as a company.”

The launch in Australia is part of a larger move by the stock exchange to license and regulate in as many countries as possible, Bankman-Fried said.

He said the world is “very” looking for a regional hub for cryptocurrencies in the Asia-Pacific region and said that other places in the region are “not working as expected.”

“I think it really made it possible to take over this region and serve it,” he added.

Australia wants to position itself as a cryptocurrency hub. Federal Financial Services Secretary and Digital Economy Senator Jane Hume said the country is “open for business” when it comes to cryptocurrencies.

Hume spoke at the conference and said that the crypto ecosystem is the new frontier, adding:

“If you want to be a pioneer on the virtual frontier of innovation, Australia is open for business. As Minister of the Digital Economy and Minister of Financial Services, I support you personally.”
The comments reflect those of fellow Senator Andrew Bragg, who delivered the conference’s opening address. Bragg used his speech to announce a legislative proposal to reform Decentralized Autonomous Organizations (DAO) regulations, abolish banking, tax and licensed crypto companies in Australia.

Related Topic: Australia’s Plan to Create a 12-Step Cryptocurrency Competitive Advantage

Comparing cryptocurrencies to the Internet boom of the late 1990s, Hume stated that the digital asset economy could boost Australia’s GDP by around 2.6% and create around 200,000 new jobs by 2030. He warned that Australia could “miss out” if the wrong rules were applied. .

“We want to encourage innovation in cryptocurrencies because innovation is what creates prosperity, and it is what creates jobs and economic growth.”

Source: CoinTelegraph