According to the Independent Reserve Cryptocurrency Index, 25% of Australians have a more positive view of bitcoin following the approval of U.S.-listed spot bitcoin ETFs in January. The study was based on a panel of only 2,100 adult respondents, which is a small sample size in a country with a population of over 26 million. The report also revealed that awareness of cryptocurrency among Australians has reached a new high of 95%, but economic uncertainty and the cost of living crisis have made some respondents hesitant to invest in crypto. While a spot bitcoin ETF is expected to be available on the Australian Securities Exchange by mid-2024, the ASX has not given a timeline for approval.

According to statistics released by the Australian Taxation Office (ATO) on November 26, as of the end of the third quarter in September, nearly 612,000 self-managed superannuation funds (SMSFs) held a total of $658.6 million (approximately AUD 992 million) in cryptocurrency, a 400% increase compared to the same period in 2019 ($131.5 million, approximately AUD 198 million).

Self-managed retirement funds in Australia have seen a 400% increase in allocation to cryptocurrency over the past four years, making it the largest growing asset class in these funds. As of September, these funds held a total of $658.6 million worth of cryptocurrencies, up from just under $131.5 million in the same quarter of 2019. However, the amount of crypto held in these funds has dropped 38% compared to the all-time high in the quarter ending June 2021. Despite this, local crypto exchanges offering crypto superannuation products are on the rise.

The Australian Taxation Office (ATO) has issued a capital gains tax (CGT) treatment guide for DeFi and individual packaged cryptocurrency, clarifying its intention to continue taxing capital gains on Australians when packaging and unpackaging tokens. In May 2022, ATO listed cryptocurrency capital gains as one of four key focus areas. Building on this initiative, the Australian tax authorities have recently clarified a range of behaviors that are considered taxable within its jurisdiction. <br>ATO stated that transferring cryptocurrency assets to an address that the sender cannot control or has a balance in will be considered a taxable capital gains tax event. ATO also added that the capital gains of capital gains tax activities are equal to the market value of the property you receive from transferring cryptocurrency assets. However, the triggering of capital gains tax events depends on whether individuals record capital gains or losses. Similar methods are also being considered for taxing liquidity pool users and providers, as well as DeFi interest and rewards.

The Reserve Bank of Australia (RBA) is considering the launch of a central bank digital currency (CBDC) and studying how tokenised money could save billions of dollars in costs in domestic financial markets. RBA Assistant Governor Brad Jones said tokenisation could deliver hypothetical transaction savings of around A$13 billion ($8.20 billion) a year to issuers in Australia's capital markets.

Australia's central bank, the Reserve Bank of Australia (RBA), has announced that it will not be making any decisions on a central bank digital currency (CBDC) for several years due to unresolved issues. The decision was made after a year-long research project conducted by the RBA and the Digital Finance Cooperative Research Centre (DFCRC) around the payments system.

Helio Lending, a cryptocurrency lending company based in Australia, was sentenced to one year of good behavior bond for falsely claiming to have a local credit license. On August 17, the Australian Securities and Investments Commission (ASIC) stated that Helio was sentenced to a one-year good behavior bond and must pay $9,600 (15,000 Australian dollars) if violated.

Bendigo Bank in Australia has become the fourth major bank in the country to block "high-risk crypto payments" in order to protect customers from investment scams. The bank has implemented new rules on instant payments to crypto exchanges, which adds "some friction to certain genuine payments." The blocks are aimed at combating fraudulent payments and enhancing protections for its 2.3 million customers. The bank has not disclosed further details on which instant crypto transactions will be blocked or which exchanges may be affected.

During a Senate hearing on July 25, Coinbase's Chief Policy Officer, Faryar Shirazad, emphasized the importance of regulatory clarity in Australia to establish itself as a major web3 hub. He urged lawmakers to act quickly, citing the upcoming implementation of the Markets In Crypto Assets Regulation (MICA) in Europe. Shirazad stated that the sooner Australia acts, the sooner Coinbase can tailor its products and infrastructure to the Australian market. The Digital Asset (Market Regulation) Bill 2023, introduced by Senator Andrew Bragg, aims to define key terms and issues around the market and protect digital asset consumers. However, the bill's progress has been slow, and Australia currently trails behind other jurisdictions like Europe and Hong Kong in rolling out specific regulations and licensing regimes.

Crypto Eri, a top XRP influencer, has announced the upcoming XRP Gold Coast 2024 Conference on Twitter, inviting the wider crypto community to attend. The conference, themed "A Wave of Innovation," will feature discussions, presentations, and workshops on the latest advancements in the XRPL and XRP ecosystem.