- Coinbase calls for a crypto task force and clear regulations in Australia’s 2025 federal election.
- Australia’s crypto adoption rose to 32.5% in 2025, up from 27.5% in 2023/24.
Coinbase urged Australian voters to prioritize crypto reforms in the upcoming federal election set for May 3, 2025. John O’Loghlen, Coinbase’s APAC Managing Director, expressed concern over Australia’s unclear crypto regulations. Despite high crypto adoption, Australia lacks a defined policy environment, which drives talent and funds to more welcoming markets.
In a statement filed on Monday, Coinbase revealed the key action for Australia’s next government. These include establishing a crypto task force within its initial 100 days and addressing the persistent issue of debanking. Coinbase also requested clear tax guidance and stablecoin regulations to support Web3 businesses in Australia.
O’Loghlen noted that Australia trails global competitors such as Singapore and Dubai. He explained that unclear regulations prompt local Web3 companies and developers to relocate. Coinbase emphasized the risk that Australia may miss future opportunities due to delayed legislative action.
Tracking the recent developments around the country, our recent report reveals that Australia’s current Labor government, led by Prime Minister Anthony Albanese, recently proposed new crypto regulations. The Treasury announced in March that major crypto platforms must obtain Australian Financial Services Licences. These regulations apply to crypto exchanges, custody providers, and certain brokers.
Additionally, the government plans to control stablecoins under its Payments Licensing Reforms. Despite this, certain stablecoins and wrapped tokens will not be under the expected control.
Moreover, the government committed to tackling debanking by collaborating with the nation’s four major banks. An enhanced regulatory sandbox will launch in 2025 to assist firms in testing new financial products without licenses.
Crypto Ownership Insights in Australia
According to a report on Statista.com, Australia has joined other countries as the crypto adoption gains traction. The recent reports notes that, in 2025, 32.5% of Australians reported owning cryptocurrency This marks increase from 27.5% in 2023/24.
Additionally, the share of cryptocurrency owners rose steadily over the years, from 16.8% in 2019. In 2020, the figure grew to 18.4%, followed by a jump to 28.8% in 2021. The trend continued with 25.6% in 2022. From the survey, it is notable that the use of cryptocurrency has gained traction when it comes to such involvement from the year 2019 to 2025.
With the May 3 election approaching, Coinbase is pushing for crypto to become a prominent campaign issue. The company urged decisive legislative action to preserve Australia’s competitive edge in digital asset innovation.
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