Despite the US government’s decision to stockpile major cryptocurrencies, Australia has no plans to create a strategic crypto reserve, according to government officials.
Australia’s Focus Is on Regulation
On March 2, US President Donald Trump announced that the US would include Bitcoin, Ether, XRP, Solana, and Cardano in its national crypto reserve. Several US states are also considering adding crypto to their balance sheets.
However, Australia’s Albanese government has no similar plans. A spokesperson for Assistant Treasurer Stephen Jones stated that the government is more focused on regulating digital asset platforms rather than investing in them. Officials believe blockchain and digital assets can help the economy and financial sector, but they have not made crypto reserves a priority.
Bitcoin falters as optimism wanes on Trump's crypto reserve plan – https://t.co/MtxdLIAQ3U
— Shehzad Younis شہزاد یونس (@shehzadyounis) March 4, 2025
Would Australia Alter Its Position?
So Australia’s federal election is being held before May 17, and if a new government is to be elected, they could potentially have different policies. Recent polling is showing the centre-right coalition is narrowly ahead of the incumbent Labor government, like 51% to 49%. Yet there is no sign yet if a new government would even do a crypto reserve policy.
So, even if the government considers holding some crypto reserves, experts are saying there are gonna be issues. Tom Matthews of Swyftx explained that the price volatility of crypto makes it quite risky for national reserves. Rather, he said that having a long-term sovereign wealth fund that invests in crypto could be a better idea.
Growing Crypto Regulations in Australia
Although Australia is not planning a crypto reserve, its regulators are increasing oversight of the crypto industry. The Australian Securities and Investment Commission has proposed new rules requiring crypto firms to be licensed. Meanwhile, the Australian Transaction Reports and Analysis Center is focusing on preventing money laundering through crypto transactions.
Australia’s Crypto Adoption Is Growing
Despite government caution, Australia is becoming a major player in the crypto space. The country has the third-largest number of Bitcoin and crypto ATMs worldwide, with over 1,450 machines, up from just 67 in 2022.
While the government may not be investing in crypto reserves, Australians continue to embrace digital assets in daily transactions and investments.
