Coinbase-backed crypto advocacy group Stand With Crypto aims to push for regulatory clarity and crypto-friendly policy in the country, as part of a broader movement in Australia.

Coinbase’s vice president of international policy, Tom Duff Gordon, said the main aim of this new branch of Stand With Crypto is to draw political attention to blockchain’s diverse use cases and promote “sensible” legislation for crypto firms operating in Australia.

“We want to make crypto not just something that’s associated with scams and scams. We want to show people good use cases, and I think if we do that with both a grassroots movement and advocacy from the top, we can raise the profile of crypto in Australia,” Duff Gordon said.

Speaking at the event, Australian House of Representatives member Simon Kennedy said that the crypto industry can expect support from the Liberal Party ahead of the federal elections to be held at the end of 2025.

“I think the Liberal Party will be very supportive of this industry. I hope it will be bipartisan, but you’re likely to see it from us,” Kennedy said.

John O’Loghlen, managing director of Coinbase Australia, said Stand With Crypto will take on the role of assisting regulators to develop sensible policy and help make crypto a priority in the regulatory environment in Australia.

“Without clarity around regulation and required markups, many top talent and young recruits will look to start their careers elsewhere,” O’Loghlen said.

Lack of clarity and slow progress on crypto policy development is a common issue voiced by many national crypto industry leaders.

In September, Swyftx CEO Jason Titman told Cointelegraph that many investors and entrepreneurs are “sitting on the sidelines until regulations become clearer in the market.”

“We also want a basic glossary of terms and clarification to comply with existing regulations, particularly ASIC’s oversight of digital native terminologies,” Titman said.

“Looking at the Howey Act and other tests that have been applied overseas, some of these types of regulations were made 80-90 years ago and its market is an orange grove-defining one, covering asset classes and technologies that are quite distant from modern Australia,” O’Loghlen said. he added.

Stand With Crypto began a similar expansion in Canada on July 12 and in the United Kingdom in May.

In the United States, Stand With Crypto lists pro-crypto and anti-crypto statements from candidates running for federal, state, and local offices.

Finally, it has intensified its efforts to support crypto-friendly candidates in the US elections. More than 280 pro-crypto candidates running for the U.S. House of Representatives and Senate won in the 2024 elections, the advocacy group reported.

Industry advocates say the new Congress and a crypto-friendly U.S. president could help pass pro-crypto legislation like the Financial Innovation and Technology for the 21st Century Act. This law will be put to vote in the Senate after passing the House of Representatives.