Legislators in Australia propose to recognize Bitcoin as an official currency

According to reports legislators in Australia are advocating that Bitcoin is recognized as an official currency.

According to the local Sydney Morning Herald two senators called on the government to better integrate the blockchain technology and their representatives.

Leading the project Liberal Senator Jane Hume and Laboratory Senator Sam Dastyari. They argue that Australia should proactively use cryptosciences and blockchain technologies. As part of this effort and to push the project forward Hume and Dastyari have formed a group called the Parliamentary Friends of Blockchain. Among the proposals there is a call to the Australian Central Bank to introduce its own crypt.

"This will be a revolutionary leap for the Reserve Bank and for the Australian financial institutions. What we want to do here in Parliament is to create the political environment to take this step "says Dastyari.

He stressed that Australia is risking to be suspended if it is not working on the development of its own official crypt diet and the use of blockchain. Early this year the Reserve Bank of Australia has set up an internal working group focusing on blockchain technology.

At the present time however not all members of the Australian Parliament are to extend the use of crypto-currencies. Bill Shorten who heads the Australian Labor Party gave a speech in June asking for tighter controls on the use of Bitcoin in the country.

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