Coinbase is urging Australians to back digital asset reform, warning the country risks falling behind in global crypto innovation.

The exchange's APAC Managing Director, John O'Loghlen, described the current policy environment as vague and unfit to support long-term growth in the sector.

The company outlined five urgent priorities for the next government. These include forming a crypto taskforce within 100 days and addressing the country's worsening debanking problem. It also called for enabling stablecoin use and providing clearer tax rules for Web3 projects.

Despite high adoption rates, the blog post stressed that unclear regulation is pushing talent and investment overseas.

Coinbase noted that wealthy Australians still hold limited crypto, suggesting caution. Despite recent proposals, it says stronger legislation is needed to keep Australia competitive.

Would you like to learn more about AI, tech and digital diplomacy? If so,ask our Diplo chatbot!