Crypto adoption stalls as government reforms fall short for Australians
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Australia’s cryptocurrency market stalls as investors await the implementation of new legislation governing digital assets, despite a year of extensive reforms. Swyftx crypto exchange published its fifth annual Australian Crypto Survey on Wednesday, revealing that adult ownership of digital assets remained unchanged, and trust in them continues to decline. The Swyftx report revealed that nearly 60% of Australians do not trust cryptocurrency, up from 57% the previous year. It also showed that the top three reasons Australians do not own crypto assets are a lack of regulation (46%), a lack of knowledge about the asset class (45%), and concerns related to fraud (31%). According to Swyftx, Australians believe that digital assets will play a crucial role in the nation’s economic future. Swyftx data showed that 4 out of 10 (39%) believe that cryptocurrency will be necessary to the economy, while 36% disagree. The percentage of Australians under 50 who believe cryptocurrency will play a central role in the economy increases to 51%, representing roughly half of the adult population. A third (32%) of the respondents say they disagree that crypto will be important to the economy. Investment trends shift among Gen Z Jason Titman, CEO of Swyftx, said that many investors are more concerned with the actual implementation of the regulations than they are with the prospect of crypto regulation at some undefined point. Titman added that many people still see cryptocurrency as an iconoclastic asset class, which is not necessarily a desirable feature for investors with lower risk appetites. The Swyftx report revealed that Australians under 35 continue to be the most active and successful cryptocurrency investors in the nation. Approximately 82% of Gen Z traders reported making money in the previous year, with an average gain of around $9,958. Parents with children under the age of 18 have…
Filed under: News - @ October 23, 2025 2:28 pm