The Australian government is not considering a strategic crypto reserve, despite U.S. President Donald Trump announcing a similar initiative in the United States.

A spokesperson for Assistant Treasurer and Financial Services Minister Stephen Jones told Cointelegraph that the government is focused on regulating digital asset platforms.

"We continue to work closely with the industry to build a fit-for-purpose digital asset regulatory regime," the spokesperson said.

While the idea of a crypto reserve is popular, it comes with risks, according to Tom Matthews, head of corporate affairs at Swyftx. He noted that price volatility makes crypto a challenging choice for a strategic reserve.

Kraken’s managing director for Australia, Jonathon Miller, added that crypto has already established itself as an investment-grade asset, with pension funds and sovereign wealth funds investing in it.

Meanwhile, Australian regulators are increasing their oversight of the crypto industry. In 2025, the country’s financial intelligence agency will focus more on crypto transactions, and the Australian Securities and Investments Commission has proposed regulations treating many digital assets as financial products.

Australia has also become a major hub for crypto ATMs, ranking third worldwide with over 1,453 machines—up from just 67 in 2022.

Source: Cointelegraph