Australia’s Crypto Election: A Game Changer
Australia is getting ready for its big federal election, and a major change is coming that could change how the country feels about cryptocurrency. This election, happening on or before May 17, 2025, is a big moment for crypto, according to Kate Cooper, the CEO of OKX Australia[3]. Let’s dive into how this election could affect crypto policies and how crypto investors are influencing politics.
The Power of Crypto Voters
More and more Australians are getting into crypto. About 22% of voters have invested in it, which is around four million adults[1][5]. And guess what? About 59% of these crypto investors want to vote for candidates who support crypto-friendly policies. That’s about two million Australians who could swing the election[1][5]. These crypto voters are usually young, wealthy, and live in suburbs—places that often decide elections[1].
Politics and Crypto Policies
The political scene in Australia is close. The center-right Coalition, led by Peter Dutton, is slightly ahead of the incumbent Labor Party, led by Prime Minister Anthony Albanese[1][5]. The election might result in a hung parliament, where no single party gets a majority. This means the crypto-voting bloc could be super important[5]. But there’s a generation gap. Only 18% of voters over 50 are likely to support pro-crypto politicians. So, the crypto world needs to communicate better[1][5].
Crypto for Big Players: We Need Clear Rules
For big players to get into crypto, we need clear rules. Cooper says that while regular people are already using crypto, big institutions need clear, useful regulations to move forward[3]. The Australian government has been working on these rules since August 2022, and this election could be the push they need to put them into action[3].
A New Era for Crypto in Australia
The Future of Crypto in Australia
This May election could be a huge moment for crypto in Australia. With millions of crypto investors potentially influencing the outcome, the election could be like a vote on how the country feels about digital money. No matter who wins, the next government will need to make clear rules and support crypto to help it grow and innovate.
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Sources:
– Bitget
– Cointelegraph
– IcoHolder