Regulation
Coinbase Appoints Local Policy Head as Crypto Industry Prepares for Regulation — Capital Brief
Slowly but surely, Australian cryptocurrency legislation is moving forward – and industry players are preparing accordingly.
Coinbase has appointed David Menzformer Treasury director and ASIC economist, as head of policy for APAC. His first tasks will include leading Coinbase’s approach to Australian digital asset platform legislation.
“[The blockchain] “Finance is a new technology, any regulation that is not fit for purpose will slow down the development of that technology and diminish the value that could come from it,” Menz said. “This includes creating new rails for the financial system that are more efficient, have fewer intermediaries and allow access to many more people around the world.”
Menz is based in Singapore, Coinbase’s hub in the region. He joins the role from the other side of the fence, having spent two years as director of the Treasury’s crypto unit. Prior to that, Menz worked at CommSec and ASIC.
The legislation will be important not only for cryptocurrency exchanges operating in Australia, but also for banks and other financial institutions keen to embrace blockchain technology, such as stablecoins and asset tokenisation, but only with a clear regulatory environment.