Australian Government Says It Has No Plans to Build Strategic Crypto Reserve

Odaily Planet Daily News Although US President Trump recently announced that the United States will establish a strategic reserve of cryptocurrencies, the Australian government is not currently considering establishing a similar reserve. A spokesman for Australian Treasurer Stephen Jones said the government will focus on regulating digital asset platforms and continue to work with the industry to promote the development of a suitable regulatory framework for digital assets. Currently, Australia has no plans to set up crypto reserves, although other US states are considering adding crypto assets to their balance sheets. As for whether Australia will adopt crypto reserves, Tom Matthews of Swytfx believes that the idea is complex and risky, and may lead to concentration risks in certain tokens. He predicts that a sovereign wealth fund with cryptocurrencies as its main assets may appear in the future. At the same time, Australian regulators are planning to shift their focus to the crypto industry, and anti-money laundering regulators have said they will strengthen supervision of the crypto industry in 2025. (Cointelegraph)