Can Australia keep up in the Bitcoin race?

In a recent Sydney Morning Herald interview, the question was raised: Is Australia doing enough to encourage Bitcoin activity, or are we moving too slowly given the momentum building in the United States?

The reality is, the US is rapidly cementing its position as the global hub for digital asset investment. With bipartisan engagement, multi-billion-dollar ETF inflows, and regulatory momentum from the SEC and lawmakers, the pace of clarity in the US is accelerating. Australia risks falling behind if we don’t act with the same urgency.

Locally, there’s been encouraging movement. In 2025, Labor made meaningful progress by proposing licensing, sandbox, and stablecoin frameworks, addressing de-banking, and advancing a wholesale CBDC pilot.

However, exposure draft legislation is still forthcoming, and details on timeframes remain limited. While these steps align with global best practices, the industry is eager to see bold yet balanced implementation to ensure we remain globally competitive. Institutional capital moves at scale and speed, we need more than consultation papers. We need clear, operational regulation around licensing, custody, and tax treatment to provide confidence to investors and businesses alike.

For prospective investors, it’s important to understand that not all digital assets are created equal. Bitcoin, for example, has a fixed supply of 21 million, that scarcity underpins its investment thesis and role as a potential store of value. Many other tokens don’t have that feature, which affects their long-term appeal. Over time, we expect to see more projects shift toward capped-supply models to appeal to institutional and more conservative capital.

As always, risk management remains essential. Volatility is part of the asset class. Investors should take a long-term view, diversify sensibly, and ensure they understand what they’re buying.

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