The Australian government is not currently considering a strategic crypto reserves, despite US President Donald Trump who announced the effort in the United States only days.
US president Donald Trump announced on March 2 that the working team of the president To digital assets were assigned to include XRP (XRP), Solana (Sol), Cardano (Ada), Bitcoin (Btc) and ether (Eth) in crypto strategic reserve.
A swathe of other US states is Also considering the addition of crypto on their balance sheets.
However, understanding the current ruling party has no plans to establish a crypto reserve.
A spokesman for Australia’s assistant administrator and financial service minister Stephen Jones told Cointelegraph that the government is dedicated to regulating digital asset platforms.
“The Albanese government has consulted our proposed framework to produce a suitable Digital Asset Regule regime, and we continue to work closely to the industry,” the spokesman said.
“The Alban government knows that blockchain and digital assets show great opportunities for our economy, our financial and change sector.”
Government change may be at an end for Australia, however. Constitutional, a new federal election must be held or before May 17, and the latest Yugov poll Shut up The center of the right coalition holding a slightly leading the center of the left government’s left government, which leads to 51% to 49%.
A speaker for the coalition did not immediately respond to a request for comment.
Talking to Cointelegraph, Tom Matthews, head of corporate activities at the Australian Crypto Exchange Swyftx, said that while the idea for a reserve is famous, it can also be “filled with complexity,” and if not managed properly that creates the potential for the risk of concentration with some tokens.
“If one of the main goals of your country’s strategic reserves is to avoid the crises, the volatility of crypto prices is a problem. It’s just hard to see where political traction comes from,” he said.
Matthews considers a more likely scenario to be the emergence of a long -term wealth funds holding a crypto.
Australia’s director of Australia Jonathon Miller, told Cointelegraph that Crypto has firmly established itself as a grade-investment owner, with ETFs in major exchanges, superannuation funds and sovereign wealth funds invested for a few hours.
“If it is appropriate for them, it is definitely worth considering for long-term asset allocators such as the future fund and even for treasury,” he said.
Related: Crypto voters can take on the upcoming federal election of Australia: YouGov Poll
It came as regulators in the country have set up plans to move the focus toward the crypto industry.
Australian transaction reports in Australian CEO Brendan Thomas said in December last year the anti-money laundering regulator was moving its focus on its The cryptocurrency industry In 2025 in the middle of a Crackdown to Crypto ATM providers that can flout anti-money laundering laws.
The Australian Securities and Investment Commission Released a paper consultation with the suggested guide for crypto Also in December, the placement of many digital assets under the category of financial products and require companies that interact with the crypto licensed.
The country also appeared as a hub for bitcoins and crypto ATMs, with ATM radar coin data shows It is the third largest number in the world to more than 1,453 ATMs, from 67 in August 2022.
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