Australia Finance Minister: We Will Not Create a Crypto Strategic Reserve
Following the recent announcement that the US is moving forward with plans to establish a strategic cryptocurrency reserve, the Australian government has clarified that it currently has no intentions of heavily investing in cryptocurrencies.
A spokesperson for Assistant Treasurer and Financial Services Minister Stephen Jones told Sky News that the Australian government is focusing on regulatory reforms for the digital assets sector and has no immediate plans to allocate public funds to crypto investments.
The spokesperson stated that the Albanese government has engaged in consultations to develop a suitable regulatory framework for digital assets and is continuing to work closely with industry stakeholders.
The government recognizes the significant opportunities that blockchain and digital assets present for the economy, financial sector, and innovation.
Meanwhile, US President Trump used his Truth Social platform to announce plans for a strategic crypto reserve, which will feature XRP, ADA, and SOL, alongside BTC and ETH.
