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Crypto Advocates Unite: Coinbase Calls for Legislative Action in Australia

Coinbase has stepped into the spotlight, urging Australian voters to prioritize crypto reform in the upcoming federal elections.

John O’Loghle, the Managing Director for APAC at Coinbase, highlighted the disconnect between Australia's burgeoning interest in digital assets and its outdated regulatory framework.

He noted that as we move into 2025, there remains a surprising lack of clarity surrounding rules that could foster innovation, consumer protection, and investment in the crypto space.

Coinbase has outlined five key recommendations for the next government, urging swift action to form a crypto taskforce and address pressing issues such as debanking and stablecoin regulation.

Despite Australia ranking among the global leaders in crypto adoption—with 31% of Australians owning digital assets—regulatory delays are driving top talent and capital to more favorable markets.

O’Loghle warned that unless Australia acts decisively, it risks losing its competitive edge in Web3 innovation, as talents are tempted to relocate to countries like Singapore and Dubai.

The call to action comes as Prime Minister Anthony Albanese’s administration works to establish a regulatory framework, including plans for licensing major exchanges and regulating stablecoins.

Recent polling has shown that a significant number of Australians, even among high earners, are hesitant to invest heavily in crypto, indicating a cautious approach to the asset class.

With the election set for May 3, Coinbase wants to ensure that crypto is part of the national conversation, pushing for actionable legislation rather than mere consultations.

In a rapidly evolving digital landscape, the future of Australia’s crypto market could hinge on the choices voters make at the polls.