Australia Prepares For The Cryptocurrency Era

<p>Regulators and banks brace themselves for a brave new crypto world, while Australians salivate.</p> <p>* A series of major developments in the crypto sector signal a new chapter in Australian finance. * Alongside a report out of the Australian Senate, CBA customers will be able to trade cryptos via a new app. * ASX gains its first crypto-themed listing, the first of many.</p> <p>Compiled by Ed Kennedy</p> <p>2021 is likely to go down in history as the year cryptocurrencies gained credibility in Australia and throughout the world.</p> <p>While crypto detractors and many supporters continue to have reservations about the crypto universe, even the most fervent critic cannot dispute that significant changes this year have instilled trust in the industry, which is expected to grow in size and support.</p> <p>A examination of significant recent happenings in Australia starkly demonstrates this.</p> <p>Those interested in understanding the Australian crypto industry must comprehend how these watershed moments will serve as the cornerstones of a new age in Australian finance.</p> <p>A Snapshot of Australia's Cryptocurrency Adoption</p> <p>Numerous statistics demonstrate that Australians have enthusiastically adopted cryptos.</p> <p>According to the September publication of Finder's Cryptocurrency Report 2021, 17% of poll respondents said that they possessed cryptos as of June 2021.</p> <p>Another poll conducted by Finder in January asserted that 25% of Australians either already owned or were planning to acquire cryptocurrency.</p> <p>When a politician makes a reference to cryptocurrency, the industry takes notice.</p> <p>While cryptocurrency is by definition decentralised, a centralised public authority's ability to significantly promote or hinder sector activities is contingent on its attitude.</p> <p>The divergent experiences of crypto traders and professionals in the United States and China over the last several months – as addressed in further detail in An Idea With Currency: The American Quest For A