Coinbase taps local policy boss as crypto industry braces for regulation
Treasury is expected to release a draft of its Digital Asset Platforms legislation by the end of the year, and the local industry is getting ready.
Slowly but surely, Australia’s crypto legislation is chugging along – and industry players are making preparations accordingly.
Coinbase has appointed David Menz, a former Treasury director and ASIC economist, as its policy manager for APAC. Among his first orders of business will be leading Coinbase's approach to Australia’s Digital Asset Platforms legislation.
“[The blockchain] is a new technology, any regulation that is not fit for purpose will decrease the development of that technology and will decrease the value that could come out of it,” Menz said. “Part of that is potentially creating new rails for the financial system that are more efficient, have less intermediaries and allow access for many more people around the world.”
Menz is stationed in Singapore, Coinbase’s hub in the region. He came to the job from the other side of the fence, having worked for two years as director of the Treasury’s crypto unit. Prior to that, Menz had stints at CommSec and ASIC.
