PANews reported on January 1 that according to News.bitcoin, Australian Treasurer Jim Chalmers said that cryptocurrencies can help modernize the country's financial system and should not be hindered by excessive regulation. Trump has prompted people to reassess the importance of the crypto industry, but at the same time he also admitted that concerns about criminals using cryptocurrencies are reasonable. However, Jim Chalmers seems to contradict the views of Michele Bullock, governor of the Reserve Bank of Australia (RBA), the central bank of Australia, who has said that cryptocurrencies such as Bitcoin have no place in the Australian economy or payment system.