Australia has taken a different approach than the US regarding cryptocurrencies. While the US announces a strategic crypto reserve, Australia focuses on developing a regulatory framework for digital assets.
Complexity in Crypto Reserves
Though the idea of a national crypto reserve is gaining traction, experts warn of significant risks involved. Tom Matthews from the Australian crypto exchange Swyftx pointed out that the high price volatility of cryptocurrencies could pose a challenge for strategic reserves.
Regulatory Focus Grows in Australia
Australian regulators are closely monitoring the crypto sector. In December, the Australian Transaction Reports and Analysis Center (AUSTRAC) announced a shift in enforcement priorities towards crypto in 2025, particularly targeting unregulated crypto ATM providers. The Australian Securities and Investment Commission (ASIC) also released a consultation paper proposing that many digital assets be classified as financial products.
Australia as a Crypto ATM Hub
Despite the government's cautious stance, Australia is rapidly emerging as a hub for crypto ATMs. Data from Coin ATM Radar shows that the country now ranks third globally, with over 1,453 ATMs in operation, up from just 67 in August 2022.
Unlike the US, Australia focuses on regulating the crypto sector, while also witnessing rapid growth in the use of crypto ATMs across the country.
