Fullstack Logo

A Comprehensive Look at Cryptocurrency Regulations in Australia

Cryptocurrency has gained significant popularity in Australia, with a growing number of individuals participating in the digital asset market.

However, as the industry continues to expand, it is crucial for investors to be aware of the potential risks associated with cryptocurrency investments. In response to recent events, the Australian government and regulatory bodies have taken steps to enhance legislation and protect customers. This article provides an overview of the cryptocurrency regulations in Australia, exploring its legal status, regulatory measures, and future plans. 

Understanding the Current State of Cryptocurrency Regulations in Australia 

According to research conducted by Roy Morgan’s Research Institute, approximately 5% of the Australian population, which amounts to over 1 million individuals, own cryptocurrency. However, surveys suggest that only a small percentage of cryptocurrency owners, around 20%, are aware of the risks involved in investing in digital assets. As the number of people involved in the industry continues to rise, it becomes increasingly important to educate investors about the potential vulnerabilities and pitfalls associated with cryptocurrencies. 

Challenges Faced in the Crypto Market 

The cryptocurrency market has always been susceptible to hacks, scams, and other fraudulent activities. Even trusted platforms and crypto investment businesses are not immune to collapse, leading to the loss of investors’ funds. Recent events in 2022, such as the FTX crypto exchange collapse, have highlighted the need for stricter regulations to protect customers and ensure market integrity. 

Cryptocurrency Legality in Australia 

Bitcoin (BTC) and other cryptocurrencies are legal in Australia and are recognized as property. Individuals can trade, spend, receive, and store cryptocurrencies, and they are accepted as a means of payment for personal and business transactions, although merchants are not obligated to accept them. Australia has fostered a neutral and stable market environment for blockchain and cryptocurrencies, encouraging innovation in payment systems, lending, investment, and custodial services. 

Cryptocurrency and cryptocurrency exchanges achieved full legal status in 2017. Since then, Australian laws have embraced the innovation brought by technology, with minimal interference in the industry. However, in 2018, to combat money laundering and counter-terrorism financing, digital currencies were included in the Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regime under the Financing Act 2006. 

Regulatory Measures Implemented 

The Australian government has historically taken a mild approach to regulating crypto assets. However, recent events have prompted calls for more effective regulations focused on consumer protection and market integrity. Although cryptocurrencies are not treated as a specific area of law, they can fall within existing regulatory frameworks under Australian law. Here are some instances: 

Plans for Regulatory Framework 

The Australian government has expressed its commitment to develop a comprehensive regulatory framework for the cryptocurrency sector. To achieve this, consultations will be initiated with industry players, investors, and stakeholders. The regulatory authorities aim to address significant gaps in the existing framework, determine custody obligations for third-party custodians, and establish additional consumer protection guidelines. The introduction of exchange regulations, custody arrangements, and Know Your Customer (KYC) processes are expected to safeguard customer funds. 

Conclusion: Consult with Our Crypto Specialists for Expert Guidance 

Navigating the evolving landscape of cryptocurrency regulations in Australia can be a complex task. To ensure compliance with the regulatory requirements and make informed decisions, it is crucial to consult with crypto specialists who possess in-depth knowledge of the industry, tax implications, and regulatory frameworks. 

At Fullstack Advisory, we understand the intricacies of the cryptocurrency market and have extensive experience in helping individuals and businesses navigate regulatory challenges. Our team of experts can provide personalised guidance tailored to your specific needs and circumstances. 

 By consulting with our crypto specialists, you will benefit from: 

  1. Expertise: Our specialists stay up to date with the latest developments in cryptocurrency regulations, ensuring that you receive accurate and timely information.
  2. Compliance: We will help you understand and fulfil your tax obligations, regulatory requirements, and reporting responsibilities, ensuring that you remain compliant.
  3. Strategic Guidance: Our specialists will assess your unique situation and provide strategic advice to optimise your cryptocurrency investments while minimising risks.
  4. Risk Management: We can assist you in implementing robust risk management practices, safeguarding your investments, and protecting your assets.

Do not navigate the cryptocurrency regulatory landscape alone. Consult with our experienced crypto specialists who can provide the guidance you need to make informed decisions and ensure regulatory compliance. 

Was this article helpful?


Stuart Reynolds
is the founder of Fullstack Advisory, an award-winning accounting firm for businesses leading the future. He is a 3rd generation accountant who specialises in tech companies, crypto and entrepreneurs.

Share this Article

Find out more.

Need accounting

Request a consultation and speak to one of our business accountants & advisors. Get clear next steps for your project.

Connect with us

Ask Us a Question?

Reach out to us about any of the topics in this article.

error: Content is protected !!

Via online meetings, email or phone, we are keen to help you get to the next level.

When it suits, just pop a time on the calendar.


Speak to our experts

Other ways to get in touch with us.

Your Privacy


We will never share your details with any third-party.

This form collects your name contact number and email address so that we can contact with you and provide a quote for our services. Please check our Privacy policy to see how we protect and manage your submitted data.



Suite 63, 388 George St, Sydney NSW 2000



120 Spencer St Melbourne VIC 3000



310 Edward St Brisbane QLD 4000

structures set Restructures

Structures - Setup & Restructures

  • Company Setups
  • Trust Setups
  • Flip Ups
  • Australian Subsidiary Setups
  • Detailed Tax Advice
  • Cap Tables
  • Equity Consulting
Get a quote Tax Advisory Icon
govt grants Incentives

Government Grants & Incentives

  • R&D Tax Incentive
  • R&D Finance consulting
  • Forward Financing consulting
  • ESIC
  • Export Market Develop. Grant (EMDG)
  • State Grant Editorial Reviews
Chat with an Advisor> Tax Advisory Icon
finance Forecasting

Financial Forecasting, Xero & Fintech Support

  • Dashboards
  • VCFO Reporting
  • Management Reports
  • Advisory Board Meetings
  • Bookkeeping & System Reviews
  • App Implementations
  • Cashflow Forecast Workshops
Get a quote structure and setup
complex tax questions

Complex Tax Questions

a) Book a consultation with a Tax Advisor
b) If more detail > Written Tax Advice

We regularly cover:
  • Corporate Structuring
  • International Tax
  • Restructures
  • Business Sales
  • Tax Consolidation
  • ESOPs
  • GST & Duties
  • FBT
  • ESIC
  • Tax Residency
Chat with an Advisor > Tax Advisory Icon
capital raising support

Capital Raising Support

  • Financial Modelling
  • Cap Table Modelling
  • Share Issues
  • Share Splits
  • Share Buy Backs Pre Diligence
  • Startup Valuations
  • ESIC / ESVCLP advice
Chat with an Advisor > Tax Advisory Icon
Tax Advisory Icon

Corporate Secretarial & Advisory Board

  • Share Issues
  • Share Transfers
  • Director Updates
  • Nominee Directors
  • Registered ASIC Agent
  • Monthly or Quarterly Advisory Board
  • AGMs
Get a Quote Corporate Secretarial