{"id":52624,"date":"2025-10-23T09:56:49","date_gmt":"2025-10-23T02:56:49","guid":{"rendered":"https:\/\/hbbgroup.net\/crypto-adoption-in-australia-stalls-as-trust-drops-despite-labors-push-for-regulation\/"},"modified":"2025-10-23T09:56:49","modified_gmt":"2025-10-23T02:56:49","slug":"crypto-adoption-in-australia-stalls-as-trust-drops-despite-labors-push-for-regulation","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/crypto-adoption-in-australia-stalls-as-trust-drops-despite-labors-push-for-regulation\/","title":{"rendered":"Crypto Adoption in Australia Stalls as Trust Drops Despite Labor\u2019s Push for Regulation"},"content":{"rendered":"<div>\n<div>\n<h4 color=\"#333\">In brief<\/h4>\n<ul>\n<li>60% of Australians still say they don\u2019t trust crypto, up from 57% in 2024.<\/li>\n<li>Labor\u2019s reform package spans exchange licensing, stablecoin oversight, and payments modernization.<\/li>\n<li>Swyftx projects millions of new investors once regulation is finalized.<\/li>\n<\/ul>\n<\/div>\n<p><span>Crypto adoption in Australia has stalled, despite the incumbent Albanese government rolling out some of the most ambitious digital asset reforms in the country\u2019s history.<\/span><\/p>\n<p><span>The fifth annual Australian Crypto Survey, released on Wednesday by crypto exchange Swyftx, found that ownership remains flat among adults, with trust in digital assets continuing to slide.<\/span><\/p>\n<p><span>Nearly 60% of Australians say they don\u2019t trust crypto, up from 57% last year, according to data cited by the report. Among those who have never owned digital assets, the key barrier is the sense that crypto still lacks clear rules.<\/span><\/p>\n<p><span>\u201cThe promise of crypto regulation at some undefined point in the future is not as important to a lot of investors as the actual delivery of those rules,\u201d Jason Titman, CEO of Swyftx, told <\/span><i><span>Decrypt<\/span><\/i><span>.<\/span><\/p>\n<p><span>But the reality is that crypto \u201cis still seen by many people as an iconoclastic asset class,\u201d one that \u201cisn\u2019t necessarily an appealing trait to investors with lower risk appetites,\u201d Titman said.<\/span><\/p>\n<p><span>Australians under 35 remain the country\u2019s most active and profitable crypto investors, per the survey. About 82% of Gen Z traders reported earning profits over the past year, with average gains of around $9,958.<\/span><\/p>\n<p><span>Ownership is highest among parents with children under 18, at 39%, compared to just 12% among non-parents. Meanwhile, only 6% of Australians aged 50 and above currently hold any digital assets.\u00a0<\/span><\/p>\n<p><span>Swyftx estimates that at least 1.6 million more are likely to enter the digital asset market over the next year.<\/span><\/p>\n<p><span>While there\u2019s reason to be \u201cexcited about the future impact\u201d of digital assets, most of the \u201cmainstream messaging\u201d around this asset class remains cautionary on \u201cscams and risk,\u201d Titman said.<\/span><\/p>\n<h2 color=\"#333\">Closing the regulatory gap<\/h2>\n<p><span>Still, 2025 has seen a wave of policy activity from the Labor government aiming to close such gaps.<\/span><\/p>\n<p><span>In March, Treasurer Jim Chalmers introduced a four-pillar reform <\/span><a href=\"https:\/\/treasury.gov.au\/publication\/p2025-628504\" target=\"_blank\"><span>blueprint<\/span><\/a><span> that includes licensing for exchanges, a regulatory framework for stablecoins, a review of enhancements to its regulatory sandbox, and more explicit tax guidance.<\/span><\/p>\n<p><span>The government also <\/span><a href=\"https:\/\/decrypt.co\/311035\/australia-unveils-new-crypto-regulations-pledges-action-debanking\" target=\"_blank\"><span>pledged<\/span><\/a><span> engagement with major banks \u201cto understand the extent of debanking,\u201d which has led to restricted financial services for crypto firms.<\/span><\/p>\n<p><span>That was followed by the Payments System Modernization Bill, which <\/span><a href=\"https:\/\/ministers.treasury.gov.au\/ministers\/daniel-mulino-2025\/media-releases\/reforms-modernise-australias-payments-system-pass\" target=\"_blank\"><span>passed<\/span><\/a><span> the Senate in early September and expanded the definition of what constitutes a \u201cpayment system\u201d to cover digital wallets and stored-value facilities such as stablecoin issuers.<\/span><\/p>\n<p><span>Later that month, a <\/span><a href=\"https:\/\/decrypt.co\/341217\/australia-drafts-law-tighten-oversight-digital-asset-platforms\" target=\"_blank\"><span>draft law<\/span><\/a><span> was introduced to bring digital-asset exchanges and custodians under Australia\u2019s financial-services regime. It requires exchanges to get financial services licenses, keep customer assets separate, and follow stricter disclosure rules.<\/span><\/p>\n<p><span>Earlier this month, Home Affairs Minister Tony Burke also proposed granting AUSTRAC powers to <\/span><a href=\"https:\/\/decrypt.co\/344517\/australias-minister-announces-sweeping-powers-curb-crypto-atms\" target=\"_blank\"><span>restrict<\/span><\/a><span> high-risk products such as crypto ATMs, citing ongoing concerns about scams and money laundering.<\/span><\/p>\n<p><span>For now, investors are waiting for the rules to set in.<\/span><\/p>\n<p><span>\u201cOnce the ink is dry on crypto laws, the narrative will shift, and the data is very clear: millions more Australians will invest in crypto when the asset class is regulated,\u201d Titman said.<\/span><\/p>\n<div>\n<h3>Daily Debrief Newsletter<\/h3>\n<p>Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>In brief 60% of Australians still say they don\u2019t trust crypto, up from 57% in 2024. Labor\u2019s reform package spans [&hellip;]<\/p>","protected":false},"author":5,"featured_media":52625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220],"tags":[],"class_list":["post-52624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tien-dien-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/52624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=52624"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/52624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/52625"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=52624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=52624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=52624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}