As the Australian federal election draws near, Coinbase’s Managing Director for APAC, John O’Loghlen, stated, “The next government must move from talking to action on crypto or risk Australia falling even further behind.”. In a blog post titled “What Australia should do to be a global crypto leader,” the managing director pointed out the current situation of crypto interest and the regulations as of present.
“On one hand, interest in digital assets is booming. Somewhere between 25 and 31 percent of Australians have either owned or currently hold digital assets – a rate of adoption among the highest in the world.”
However, “on the other hand, regulation has stalled. Despite early leadership – including a parliamentary inquiry into “digital currency” way back in 2014, a debanking inquiry in 2021, and more recent consultations on regulating intermediaries like Coinbase – Australia’s policy environment for crypto remains frustratingly vague and underdeveloped. It’s now 2025, and we still don’t have clear rules to support innovation, protect consumers, and attract long-term investment.”
He further stated that the lack of regulation or recognition is hurting founders, investors, and everyday Australians. Since there is no clear guideline or regulation, “Every day, we’re seeing local capital and talent flow to friendlier jurisdictions like Singapore and Dubai, where businesses know where they stand and can invest and grow in confidence,”
Furthermore, while comparing the Australian approach with other countries, O’Loghlen, stated, “India and Pakistan have both made moves to embrace digital assets, and the U.S. is taking concrete steps to cement its leadership position. Meanwhile, Australia’s major banks are shutting Australians out of their bank accounts for investing in crypto. This is despite crypto assets being owned by one in five Australians, superannuation funds, and even the banks themselves.”
O’Loghlen, ends the blog post by proposing 5 clear, actionable steps to make Australia the global crypto leader. The initial proposition was to launch a crypto industry-government task force consisting of “industry and consumer representation” in the first 100 days. Next is to stop debanking everyday Australians “for wanting to either operate, or invest in, digital asset ventures”.
Thirdly, he requests to set up a licensed regime that gives clarity to both service providers and consumers, so that they could use crypto like other assets. Provide a pathway for stablecoin adoption and finally make Australia a hub for Web3 entrepreneurs by providing tax clarity, startup incentives, and dedicated grants for blockchain R&D.
