Coinbase has praised Australia's open and transparent approach to developing cryptocurrency regulations and committed to contributing to the growth of the crypto industry in the region. The company has registered with Austrac, partnered with local Web3 players, and become a board member of Blockchain Australia. According to a 2022 study, around 25% of Australians hold cryptocurrency. The country's lawmakers and regulators are focused on consumer protection and innovation, and their thoughtful approach could help the crypto industry thrive in the region. Coinbase is in constant touch with Australian government departments and the Treasury, discussing topics such as cybersecurity and privacy.

(By Roxanne Williams)