GM from Australia
GM from Australia. In this article, we look at crypto adoption rates and usage cases in Australia, the introduction of an Australian dollar-backed stablecoin (AUDM), key events and communities, and the regulations and laws governing crypto in the country. We also turn to the rising adoption of cryptocurrencies through innovations in investment tools such as flexible pension systems, alongside broader engagement with blockchain-based assets–from tokenised assets and memecoins to increasing institutional participation and the expansion of crypto companies into the Australian market. Read the full article here.
In previous editions of GM From, we looked at how the crypto industry is developing in countries including Sweden, Kazakhstan, Kyrgyzstan, Nigeria, Morocco, India, the Netherlands, and the United States. We looked at adoption rates, usage cases, ecosystems and events, and other developments shaping the industry. This time, we go to Australia. How are Australians using crypto? What are the potential opportunities and setbacks for crypto in the country? And what initiatives and projects are actively involved in shaping the space?
At Thrilld Labs, our team has consisted of people from around the world, coming from countries such as the Netherlands and Italy to South Korea, Russia, the United States, Nigeria, and China too. Fundamentally, we argue that global collaboration is a big part of what Web3 intends: creating an ecosystem that removes traditional barriers to participation thanks to its inherent construction around a decentralized network. However, even with these decentralized beginnings, there remain challenges for everyone to have the same opportunities.
Whether it be from the lack of an internet connection or laptop, an insurmountable knowledge gap, or legal limitations, your location and personal situation is a determining factor in Web3. And, where you live and who you are surrounded by, fortunately or unfortunately, do influence your work environment and how easily you can enter or do business in the Web3 space, or any, for that matter! (Networking Theories: Human Connectivity in Web3, Thrilld Labs).
At the same time, we see the global nature of Web3 coming to the surface in global teams (such as our own :)), in the increasing number of international Web3 companies, and, last but not least, in all the Web3 events taking place globally.
As a global Web3 company, and one that actively works with international events, communities, and partners, we are very curious to know more about the Web3 ecosystem and emerging crypto spaces in different countries. As well as how communities and individuals are contributing to discussions and furthering global participation through the very breaking down of said entry barriers.
In this edition, we turn to the crypto space in Australia. Read on to find out key stats on crypto adoption and usage, the introduction of an Australian dollar-backed stablecoin, events and communities in the country, in addition to the latest regulatory and taxation clauses…
Crypto in Australia
Australia is the world’s flattest and driest inhabited continent, with incredible diversity in wildlife, climates, and landscapes. Vast deserts known as the Outback cover much of the landscape, yet in other places, the environment changes into rainforests or a temperate coastal area. Importantly, Australia is widely considered as a highly developed country in terms of economy and technology too. Something of interest for our purposes, Australia’s digital asset presence is gradually expanding. As more individuals, investors, and businesses engage with cryptocurrencies, and as the ecosystem expands through conferences and favorable regulatory changes, digital assets in Australia are attracting increasing investment and attention.
That’s to say, Australia is coming up alongside the UK and US in adoption growth. In 2025, some estimates suggest that Australia’s crypto adoption reached close to 30%, although more conservative figures place active ownership closer to around 14%, depending on how adoption is measured. The surge can be attributed to a mix of factors, including increasing institutional interest, the role of stablecoins globally, and the action of pension funds accepting crypto and digital asset solutions.
One of the world’s best-regulated savings pools, Australia’s $4.3 trillion pension system, is beginning to open up to crypto (The Business Times). In particular, with the option to choose SMSFs (self-managed superannuation funds), individuals have greater management over the assets within their portfolios. They have more freedom to personalize and select the assets that make up their portfolio, which also happens to include cryptocurrencies and digital assets as possible savings options.
Alongside greater rates of adoption, it is also interesting that crypto is being used for diversified pursuits–from retirement savings, to tokenized assets and stablecoins, to memcoins too.
Backed by major exchanges such as Coinbase and OKX, cryptocurrencies are increasingly perceived as more credible investment instruments within pension systems. These companies are also developing products that allow pension funds and SMSFs to gain exposure to digital assets. For example, Coinbase is planning to launch its own SMSF service, with over 500 investors reportedly on the waiting list as of March 2026. In practice, these structures typically provide exposure to major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), and in some cases stablecoins, while operating under strict Australian Taxation Office (ATO) compliance requirements. From these services, cryptocurrencies and digital assets are beginning to sit alongside equities, commodities, and property in diversified investment portfolios.
In addition to pension funds, cryptocurrency’s popularity in Australia is spurred by other investment tools too. The rise of tokenisation of real world assets (a global shift as well) has made it easier, and in some cases less volatile, for people to access blockchain-based investments–for example, through tokenised shares, funds, or property. Alongside this, the growth of stablecoins has improved liquidity in the market, allowing users to move in and out of positions more easily while reducing exposure to price volatility.
Interestingly, perhaps a peculiar case in Australia, Gemini’s Global State of Crypto 2025 report found that around 30% of Australians who own both memecoins and other cryptocurrencies said their first crypto purchase was a memecoin. The report also noted that half of Millennials and Gen Z respondents currently own crypto or have owned it in the past.
While memecoins might be a popular first entry point, crypto’s adoption has overall expanded with institutional interest, capital accumulation, and regulatory clarity (which we will turn to later on!). In many cases, crypto and digital assets more broadly are becoming more intertwined with traditional institutions and finance, hereby becoming more relevant for users, as well as more accessible thanks also to innovations in investment and market tools.
Stablecoins
Stablecoins have been on the rise globally, entering mainstream payments and now the Australian market.
Once onboarded to a crypto exchange or self-custodial wallet anyone can easily initiate a cross-border payment with stablecoins, instantly and with transparent foreign currency exchanges and lower fees. A stablecoin’s open network generally removes the traditional intermediary which offers greater flexibility and, sometimes, more privacy. Although these hopes are only so far true as much as market actors make them. Ultimately, for stablecoins (and cryptocurrencies more generally) their adoption and usage is still very much predicated by shaping discourses and industry actors, including native companies, financial institutions and the government.
Speaking of which, the Australian Securities and Investments Commission (ASIC) has granted the first financial services licenses for stablecoins. The license relieves those intermediaries who are engaging in the secondary distribution of stablecoins, and gives regulatory exemptions for certain stablecoin distributors with an Australian financial service licence.
From this development comes Australia’s first stablecoin pegged to the Australian dollar: AUDM. AUDMs will be issued by Macropod, which is backed by MHC Digital and headed by former National Australia Bank executive Drew Bradford. The AUDM will be treated as a “non-cash payment facility,” meaning, simply put, that the stablecoin won’t be treated the same as other crypto assets. This is to boost confidence in the stablecoin and encourage banks and others to use it as well, thereby increasing the demand for the Australian dollar in the crypto market. For example, it is already clear that “AUDM will be backed by one Australian dollar via deposits held at NAB, and Macropod will publish monthly proof-of-revenues attestations to APRA” (afr). More regulatory clarity is expected to come.
With government support for assets like the AUDM, it is similarly hoped that attention in Australia's crypto scene will rise more for tokenized assets and broadly the Web3 economy too. Moreover, with the US dollar dominating global stablecoin activity (predominantly with Tether’s USDT and Circle’s USDC), the Australian market too is heavily reliant on these stablecoins, at least in the crypto and fintech spaces. Yet, with Australia’s very own stablecoin, Australians can expect greater monetary sovereignty untied from the US dollar, and reduced risk for investors in terms of foreign exchange fluctuations.
Web3 Events and Communities in Australia
At Thrilld Labs, we partner with Web3, crypto, and blockchain events around the world and throughout the year. In this section, we wanted to highlight some significant events and conferences that we know about in Australia. Events have often acted as the meeting point for crypto projects and individuals. From developers, Web3 service providers, crypto users, to investors, traditional companies, and policymakers, events are the floor for all ears and, hopefully, all voices too. For that reason, we see a large part of the industry shaped by events.
Below we found a few of the notable events and communities active in the Australian crypto ecosystem:
The Australian Digital Economy Conference (DECA), which happens in Sydney from June 15-17 this year. In a few short words, DECA is hosted by the Digital Economy Council of Australia, the national industry body representing businesses and professionals building Australia’s digital infrastructure across blockchain, digital assets, AI and converging technologies. It covers themes such as real-world asset tokenization, payments and programmable value infrastructure, telecommunications networks, AI and automation, Web3 networks, regulations and governance, among others.
Later in November, the Australian Crypto Convention will also take place in Sydney gathering a large crowd of crypto folks for panels and speeches across the umbrella of Web3. With four planned theatres, each offers a different theme. How will mass adoption actually take place in the global market? How will institutions and businesses adopt blockchain? What are real-life uses of blockchain technologies and crypto? Otherwise, the event takes a perspective from the Australian side of things.
For an academic turn, the IEEE International Conference on Blockchain and Cryptocurrency will take place in Brisbane from June 1-5. The conference accepts technical papers and tutorial proposals related to blockchain and cryptocurrencies. There is currently a call for papers, by the way!
A few of the communities in Australia include All Things Blockchain, Web3 Sydney, Western Australia Web3 (WAWEB3), Cardano Blockchain Sydney, and the Cardano Blockchain Brisbane, AU.
Cryptocurrencies Laws and Digital Assets Regulations
Cryptocurrencies are not prohibited in Australia. And while there is no standalone legislation that regulates cryptocurrencies, they are managed under existing laws instead.
Yet, the Australian government is taking a favorable attitude to the digital assets markets, shifting its previous approach as a passive observer to now introducing reforms that support the market.
In its “Statement on Developing an Innovative Australian Digital Asset Industry” (March 21, 2025), the Government stated that digital assets are an evolving part of the economy, offering opportunities for new products and productivity gains. As such, the aim of the government is to identify these opportunities, manage risk, unlock innovation, protect consumers and uphold market integrity.
To this end, the Government introduced four primary elements to its digital assets plan:
- a framework for Digital Asset Platforms (DAPs), which are online platforms that hold digital assets, such as crypto, for consumers;
- a framework for payment stablecoins, which will be treated as a type of Stored-Value Facility (SVF) under the Government’s Payments Licensing Reforms;
- undertaking a review of Australia’s Enhanced Regulatory Sandbox; and
- a suite of initiatives to investigate ways to safely unlock the potential benefits of digital asset technology across financial markets and the broader Australian economy.
To read the official statement by the Commonwealth Government of Australia, find the report here.
Under the proposed reforms, the government hopes to effectively balance between sustainable innovation and consumer protection (something we’ve also seen elsewhere, see for instance GM from Nigeria and GM from the USA). This comes with great regulatory tightening on the service providers and issuers, rather than on the consumer or even the technology or assets themselves. The report also emphasizes that their approach is informed through public consultations, and works with the industry itself, and regulators such as the Australian Securities and Investment Commission (ASIC). The ASIC is leading the enforcement against crypto businesses with alleged unlicensed activities, aligning with the Government’s regulatory initiatives to prevent technology-enabled misconduct and scams. At least in theory, the goal is to mitigate risks for consumers while not imposing new regulatory burdens on digital asset issuers themselves, or on businesses that create or use digital assets for non-financial purposes.
However, another element to the reforms is the creation of a framework for payments service providers (PSPs). This requires changes to the existing licensing regime to extend to all of the varied payment options now available in Australia, including payment stablecoins.
Both of the introduced reforms build off of the current Australian Financial Services License (AFSL), requiring businesses to comply with certain existing financial services obligations, although some flexibility remains.
Even still, a recent report from ASIC, “The Key Issues Outlook 2026,” has pointed out some gaps in the proposed frameworks. The results of such gaps means that there is continued uncertainty on where businesses operate, within the scope of financial services licensing regimes or other. ASIC, the main regulator, has suggested this decision lies with the Australian government. Meanwhile, with surging adoption rates and increasing institutional involvement with digital assets in Australia, the matter becomes a timely complication.
To ease this transitional period, temporary measures are being rolled out alongside a no-action stance until June 2026, giving companies time to review updated guidance, file license applications, or adjust business models to meet anticipated obligations (Australia crypto regulation gaps named top 2026 risk as ASIC pushes new licensing regime).
Taxation
The Government is giving more attention to tax evasion by providing an international (and standard) reference for revenue authorities to exchange information on users’ crypto tax transactions. As of March 2025, cryptocurrency is not recognised as legal tender in Australia. In other words, it is not treated as “money” under Australian law, but as property for legal and tax purposes.
This reflects the stance of the Reserve Bank of Australia (RBA) that cryptocurrencies aren’t considered as “money” because they don’t satisfy the three key functions of money: a widely accepted means of payment, a stable storage of value, and a common unit of account. According to this definition, the RBA points out that while cryptocurrencies can facilitate payments, their volatility, limited merchants acceptance, and use of bespoken units of account mean crypto is not treated as money under Australian law (Blockchain & Cryptocurrency Laws and Regulations 2026 – Australia).
For holders of cryptocurrencies then, this means that tax implications are dependent on the purposes for which the cryptocurrency is acquired or held. Therefore, whether the cryptocurrency is used for say sales or exchanges during the ordinary course of business, in isolated transactions, or for cryptocurrency investments the tax requirements may differ case by case.
Conclusion
In this article, we looked at how Australians are using cryptocurrencies. From increased adoption, the rise of investment tools including flexible pension systems, to asset tokenization (such as tokenised shares, funds, or property) as well as the development of an Australian stablecoin, the industry is growing and expanding rapidly in Australia. Regulatory gaps remain, yet in recent years (and months!) the Australian government, regulatory bodies, and other related parties have sought to introduce new frameworks and standards on cryptocurrencies' position in the economy. The aim has been to expand on opportunities in the market, while safeguarding against risk and uncertainty. Additionally, the ecosystem in Australia is taking a favorable direction not in the least because of its active communities and events throughout the year. As a final thought, with the introduction of the AUDM, we wonder how its adoption by Australian investors and users alike might influence the balance of value currently centered around the US dollar, and whether it could encourage a stronger role for the Australian dollar within the crypto space.
The research and data used in this article are up-to-date as of April 2026.
Read more GM From research pieces:
GM from Kyrgyzstan–Thrilld Labs
GM from Kazakhstan–Thrilld Labs
GM from the Netherlands–Thrilld Labs
Resources
Blockchain & Cryptocurrency Laws and Regulations 2026 – Australia (Global Legal Insights, 2025)
Australia’s first stablecoin licences have opened the door. Will customers walk through? (PwC, 2025)
Australia Enters the Global Crypto Spotlight as Adoption Surges (Crypto News Australia)
Global Crypto Adoption Stats 2026, By Country Data (demandsage)
Australian Crypto Adoption Outpaces US, Data Shows (cryptonews)
Crypto finds gateway into Australia’s A$4.3 trillion pensions pot (The Business Times)
Crypto industry heads into 2026 ready for Aussie domino effect (Stockhead)
