Continued the debate
Kennedy argued that the bill provided overdue legal clarity for digital assets, defining tokens and integrating platforms into the regulated financial system to boost investor confidence. Kennedy contended that previous regulatory uncertainty had driven capital and jobs offshore, citing a significant drop in fintech investment. Kennedy stated that the bill was a sensible start but criticized the government for delaying reform, which allowed ASIC to enforce laws through litigation rather than clear legislation. Kennedy emphasized that Australia was falling behind comparable jurisdictions like the US, UK, and EU in regulating stablecoins and tokenisation.