Key report findings
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In 2021, the cryptocurrency and digital asset sector will contribute $2.1bn to the Australian economy and employ around 11,600 people.
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With reform and growth, this could increase to a contribution of $68.4bn and employ over 200,000 Australians by 2030.
SYDNEY & NEW YORK, December 14, 2021–(BUSINESS WIRE)–Mawson Infrastructure Group Inc. (NASDAQ:MIGI) (“Mawson”), a digital infrastructure provider, is pleased to announce the release of a report on ‘Cryptocurrency and The Distributed Digital Economy in Australia.’
Mawson engaged EY (formerly Ernst & Young) to examine the economic impact of Australia’s cryptocurrency and digital asset sector. This was in response to the Senate Committee report entitled “Australia as a Financial and Technology Centre Final Report“. The report highlighted the opportunity which cryptocurrencies, blockchain and the digital economy could have on Australia both now and into the future.
Mawson believes that cryptocurrencies and related digital assets will help shape Australia’s future economy and sees enormous potential in this industry to drive long-term economic value.
The report found that in 2021, digital assets will contribute $2.1 billion to the Australian economy, employ 11,600 people, may reduce electricity price volatility and assist in the transition to renewable energy. The EY analysis indicates that by 2030 the impact could be $68.4 billion to the Australian economy and employ in excess of 200,000 people.
James Manning, CEO and Founder of Mawson, said: “Digital assets and infrastructure are critical ingredients to Australia’s digital and economic future. We are at a crossroads. As an industry, we desperately need a fit-for-purpose policy and regulatory framework to provide greater security and certainty to consumers and the crypto industry.
“The Bragg Report [Click Here] recommendations, in particular, represent a significant coming together of industry, regulators and government. The Bragg…
