Australia Focuses On Digital Asset Regulation Amid U.S. Crypto Reserve Plans

According to Odaily, despite U.S. President Donald Trump's recent announcement of establishing a cryptocurrency strategic reserve, the Australian government currently has no plans to create a similar reserve. A spokesperson for Australia's Finance Minister Stephen Jones stated that the government will prioritize regulating digital asset platforms and continue collaborating with the industry to develop an appropriate regulatory framework for digital assets. While some U.S. states are considering adding crypto assets to their balance sheets, Australia remains cautious about adopting a crypto reserve. Tom Matthews from Swytfx commented that the idea is complex and risky, potentially leading to concentration risks in certain tokens. He speculated that a sovereign wealth fund primarily composed of cryptocurrencies might emerge in the future. Meanwhile, Australian regulatory bodies are planning to shift their focus towards the crypto industry, with anti-money laundering regulators indicating plans to enhance oversight of the sector by 2025.