Australia’s financial regulator has shut down 95 companies linked to crypto and romance scams. On April 7, the Australian Securities and Investments Commission (ASIC) announced that the Federal Court approved its request to dissolve these entities due to misconduct and fake registrations. ASIC revealed that these companies had been set up using false details and […]
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The tariff-sensitive currency has rebounded nearly 100 pips from the Asian session low, suggesting a potential nadir in the selling of risk assets.
Australia has the highest number of crypto ATMs in the Asia Pacific region.
Key takeawaysBitcoin is legal in Australia and is regulated by AUSTRAC and the Australian Taxation Office (ATO). You can buy Bitcoin on various platforms, including centralized exchanges, decentralized exchanges (DEXs), P2P platforms and Bitcoin ATMsPayment options are diverse, including credit cards, debit cards, bank transfers and fiat cash deposits at ATMsStore your Bitcoin securely and opt for cold wallets, which protect you better than custodial wallets from crypto exchanges. Bitcoin adoption continues to grow. More and more Australians are discovering the cryptocurrency as an investment vehicle, with ownership rising from 23% in 2023 to 32.5% in 2025, an impressive 41.3% increase. Because there are several platforms to choose from, buying Bitcoin is low-threshold and secure. This article covers several methods and describes the steps to safely start investing in Bitcoin. Is Bitcoin legal in Australia?Yes, Bitcoin is legal in Australia, but it’s not considered a legal tender. The local government considers owning cryptocurrencies like Bitcoin (BTC) as property. Any profit you might make from Bitcoin is subject to capital gains tax (CGT), with Australian Transaction Reports and Analysis Centre (AUSTRAC) ensuring AML and CTF compliance.Of course, there are also various regulatory requirements to abide by. AUSTRAC requires cryptocurrency companies to comply with Anti-Money Laundering (AML) and counter-terrorism-financing (CTF) regulations. This framework aims to protect Australian investors by safeguarding the crypto market against financial crime.A significant update in 2025 requires major crypto platforms to obtain an Australian Financial Services License (AFSL) for enhanced consumer protection, as outlined in government proposals.Did you know? Some Australian exchanges offer instant verification, allowing you to start trading Bitcoin within minutes.Prerequisites to buying Bitcoin in AustraliaBefore buying Bitcoin in Australia, it is essential to prepare properly. To get you started, here are some points of interest: Understand the legal landscape: Bitcoin is legal and regulated in Australia by AUSTRAC, but it is not a legal tender. You can safely deal with cryptocurrencies because the government minimizes risks such as money laundering. Platforms to buy Bitcoin in Australia: If you want to buy Bitcoin or other crypto assets in Australia, use a reliable platform. Choose CoinSpot, Swyftx or Binance. These exchanges comply with local regulations, allowing you to trade safely. Of course, don’t forget to complete your KYC verification. Please note that Binance offers spot trading only, as its derivatives license was canceled in 2023.Set up a non-custodial wallet for self-custody: Choose a non-custodial wallet, such as Trust Wallet or Exodus. This allows you to keep control of your private keys. If you go for long-term storage of your coins, always choose a cold wallet that stores your assets offline. Payment methods and fees: The fastest and safest way is to initiate transactions with a reliable payment method, such as bank transfer, credit card or PayID. Always check the associated transaction fees so you don’t incur unexpected (sometimes high) fees. Secure your investment: Take precautions for your security, too. Enable two-factor authentication (2FA) on your accounts and back up private keys regularly. Ensure your platform offers strong security features such as encryption and cold storage.How to buy Bitcoin in Australia on a centralized exchangeWant to buy Bitcoin through a central exchange, such as CoinSpot? You can do this easily and quickly:Step 1: Create an account. Sign up to CoinSpot with your email address and a secure password. Go through the KYC process with ID verification and get started. As of 2025, CoinSpot complies with AUSTRAC regulations and the new AFSL requirement, ensuring enhanced consumer protection. Step 2: Add a payment method. Link a payment method, such as bank transfer, debit card or Australian-only PayID. CoinSpot supports low-fee options like bank transfers (free via POLi) and PayID, while credit/debit card transactions may incur fees up to 2.58%, so review these costs upfront.Step 3: Navigate to the Bitcoin purchase section. Go to “Buy/Sell” on CoinSpot’s website or in the app and select Bitcoin from the list of over 350 supported cryptocurrencies. Step 4: Enter the amount. Enter how much Bitcoin you want to buy in AUD. The platform will display how much Bitcoin you are buying based on the current exchange rate.Step 5: Check the transaction. Check the details, including fees, before confirming the purchase.Step 6: Confirm and complete the purchase. Click “Buy Now” to complete the transaction. The Bitcoin you bought will appear immediately in your CoinSpot wallet. For added security, you could consider transferring your BTC to a non-custodial wallet like Exodus after purchase to retain full control over your private keys.This efficient process makes Bitcoin accessible to beginners and experienced users, all in a secure, regulated environment. How to buy Bitcoin in Australia using a non-custodial walletNon-custodial wallets give you full control over your Bitcoin. If you want to know how to buy Bitcoin with your Trust Wallet, go through the steps below:Step 1: Set up a Trust Wallet. Download Trust Wallet from the App Store or Google Play. Create a wallet, set a secure password and write down the 12-word recovery phrase.Step 2: Link a payment method. Link a payment method, such as a debit card or bank transfer, via MoonPay or Simplex. Use a service that supports Trust Wallet in Australia.Step 3: Select Bitcoin and start the purchase. Tap “Buy” on Trust Wallet, select Bitcoin (BTC) and enter the amount in AUD. Review the transaction details before finalizing the purchase.Step 4: Confirm and complete the transaction. After confirming the payment details, tap “Confirm” to complete the purchase. The Bitcoin will appear in your Trust Wallet as soon as it is finalized.Use a non-voluntary wallet to always have your Bitcoin in your possession and optimize privacy and security. How to buy Bitcoin in Australia on a decentralized exchange (DEX)Buying Bitcoin on a DEX, such as Uniswap, gives you complete freedom over managing your assets. Here’s how to buy Bitcoin through a DEX: Step 1: Set up a crypto wallet. Download MetaMask and create a wallet. Save the 12-word recovery phrase and put ETH in your wallet to cover transaction costs. Step 2: Connect to the DEX (Uniswap). Visit the Uniswap website and click on “Connect Wallet.” Choose MetaMask or WalletConnect for mobile users.Step 3: Select Bitcoin to buy. Select ETH as the token to exchange and Wrapped Bitcoin (WBTC) as the token to purchase. Step 4: Review and approve the transaction. Check the details, including the ETH amount and WBTC to be received, and confirm the transaction.Step 5: Confirm and complete the purchase. Once you have confirmed everything, the transaction will be processed on the Ethereum blockchain. Your WBTC will appear in your MetaMask wallet.Using a DEX ensures you maintain control over your private keys while enjoying a decentralized trading experience.Did you know? Bitcoin adoption in Australia has been rising recently, leading many Australians to deploy cryptocurrency to diversify their investment portfolios. How to buy Bitcoin in Australia via P2P platformsIn Australia, you have peer-to-peer (P2P) cryptocurrency platforms such as Binance P2P to buy Bitcoin directly from other users, offering flexibility and privacy. Here’s how you can buy Bitcoin on P2P platforms:Step 1: Create an account. Sign up and complete the KYC verification. Have your ID ready and verify your contact details during the process. Notably, Binance P2P, registered with AUSTRAC, ensures compliance with AML/CTF regulations, making it a reliable choice for Australians.Step 2: Search for Bitcoin offers. Browse available offers, filtering by payment method (e.g., bank transfer, PayID), price or seller reputation. Prioritize sellers with high feedback scores (e.g., 95%+ positive ratings) and a history of 100+ completed trades for trustworthiness. Binance P2P displays these metrics clearly. As of 2025, Binance P2P supports over 31 fiat currencies and 700+ payment methods globally, tailoring offers to Australian users.Step 3: Start a trade. Select the amount of Bitcoin or fiat currency you want to trade and click “Buy.”Step 4: Make the Payment. Pay via bank transfer, PayID or another accepted payment method. The platform holds the Bitcoin in escrow until the payment is confirmed. Notably, PayID transactions are instant and free on Binance P2P, while bank transfers may take 1-2 hours. Confirm receipt with the seller via the platform’s messaging system to avoid delays.Step 5: Receive your Bitcoin: Once the seller verifies your payment, the escrowed Bitcoin is released to your P2P wallet (e.g., Binance wallet). This typically happens within minutes for instant methods like PayID. For maximum security, you could immediately transfer your BTC to a non-custodial wallet like Trust Wallet or a hardware wallet like Ledger. P2P platforms aren’t designed for long-term storage. This P2P process offers a direct, flexible way to buy Bitcoin, with Binance P2P standing out in 2025 for its robust escrow system and wide payment options. Always double-check seller credibility and avoid off-platform payments to mitigate risks, aligning with best practices for P2P trading.How to buy Bitcoin in Australia using Bitcoin ATMsBy using a Bitcoin ATM, you can buy Bitcoin quickly and easily. This is how:Step 1: Find a Bitcoin ATM. Search for Bitcoin ATMs with CoinATMRadar. These machines are usually found in shopping centers in major Australian cities.Step 2: Verify your identity. Most ATMs require a government-issued ID, such as a driver’s license or passport.Step 3: Start the transaction. Select “Buy Bitcoin” and enter the amount you want to purchase in AUD or Bitcoin.Step 4: Enter your wallet address. Scan the QR code of your Bitcoin wallet to enter the address so you can receive Bitcoin.Step 5: Deposit the money. Deposit the money in the ATM to complete the transaction.Step 6: Confirm and complete. Check the transaction and confirm the purchase. The Bitcoin will arrive in your wallet after processing.Quick checklist for Bitcoin ATM use in AustraliaLocate a verified ATM via CoinATMRadar.Bring a pre-set wallet QR code and ID.Compare fees/rates to online alternatives.Use in a safe, public location.Confirm receipt and track the transaction.Avoid unofficial QR codes or support contacts.Start with a small test transaction.How to buy Bitcoin ETFs in AustraliaBuying Bitcoin ETFs in Australia is straightforward. Just follow these steps:Step 1: Choose a brokerage platform. Open an account with a brokerage that offers Bitcoin ETFs on the ASX. Make sure it complies with Australian financial regulations.Step 2: Complete KYC verification. Submit proof of identity and proof of address for verification.Step 3: Deposit funds. Transfer funds to your account using secure methods, such as bank transfer.Step 4: Search for Bitcoin ETFs. Use the platform’s search function to find Bitcoin ETFs, such as VanEck Bitcoin ETF (VBTC) or Global X 21Shares Bitcoin ETF (EBTC).Step 5: Place your order. Choose the number of units you want to buy and select a market or limit order.Step 6: Confirm the purchase. Check and confirm the transaction. The ETF units will be added to your portfolio after the transaction has been completed.Did you know: Bitcoin ETFs in Australia are scrutinized by ASIC and ASX to ensure high transparency and investor protection.Best practices for buying Bitcoin in AustraliaStore your Bitcoin securely after purchase using a reputable platform that complies with ASIC and AUSTRAC regulations. Ensure you have a secure internet connection and enable two-factor authentication (2FA). Choose cost-effective payment methods such as bank transfers instead of credit cards. After you have purchased the Bitcoin, move it to an unsecured wallet to have complete control over your private keys. Use a cold wallet for maximum security. Stay up to date on market trends, tax obligations, and changes in regulations to protect your investments. The crypto landscape evolves rapidly, and keeping up to date will help you make better investment decisions while ensuring compliance with Australian laws.
Australia is taking decisive steps toward establishing a clear regulatory framework for the crypto sector, according to the Treasury’s Statement on Developing an Innovative Australian Digital Asset Industry. The Treasury said the move aims to provide greater consumer protection, reduce risk, and bring much-needed clarity to the industry. Regulatory framework Under the proposed framework, certain […]
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The government's plan will direct different parts of the government to research different aspects of digital assets, including tokenization and CBDCs.
The Libertarian Party of Australia has formally unveiled its new Bitcoin Policy Whitepaper, with a centerpiece proposal advocating for the establishment of an Australian Strategic Bitcoin Reserve (SBR). The announcement was made on March 8 during the BitcoinAlive event. The event showcased the Libertarian Party’s vision for integrating Bitcoin into Australia’s financial and regulatory framework. While the party remains relatively small compared to the nation’s two major political contenders, it aims to influence broader debate on crypto policy. This stance places Australia alongside various US states that are working toward legislative recognition of Bitcoin reserves, as well as the US federal government’s announcement last week. Establishing An Australian Strategic Bitcoin Reserve One of the most prominent features of the Whitepaper is the call to create an Australian Strategic Bitcoin Reserve. Referring to Bitcoin’s “decentralized and limited-supply nature,” the Libertarian Party states that: “Bitcoin’s fixed supply of 21 million coins ensures that its scarcity protects against inflation […] This robustness enhances its appeal as a reliable store of value and positions it as an ideal component of Australia’s financial strategy.” Related Reading: Bitcoin Plays Chicken With Central Banks As Dollar Falls, Says Expert The proposal suggests that such a reserve would hedge against inflation, diversify national assets, and “strengthen the nation’s financial resilience.” According to the document, funding would derive from several possible sources, including allocations from Australia’s Future Fund, budget surpluses, and proceeds from government asset sales. Throughout the 23-page White Paper, a repeated theme is that of personal and financial autonomy—concepts foundational to Bitcoin’s decentralized ethos. One recommendation asserts the right to self-custody, arguing that individuals should be able to hold Bitcoin themselves without reliance on central intermediaries. It reads: “The right to self-custody is paramount for achieving true financial sovereignty and privacy in an increasingly digitized economy.” The paper’s authors contend that self-custody protects against “governmental overreach,” referencing past global financial crises that eroded public trust in centralized institutions. Beyond the reserve, the White Paper advocates for comprehensive legal recognition and clearer regulatory standards. It calls for the removal of Capital Gains Tax (CGT) on everyday Bitcoin transactions and outlines a vision in which Australia “positions itself at the forefront of global innovation in financial services.” To that end, the document also proposes: “Treating Bitcoin as a legitimate and viable alternative to traditional financial systems, promoting financial autonomy and inclusivity.” Related Reading: This Bitcoin Signal Aligns With Price Tops, CryptoQuant Analyst Reveals Such moves, the party believes, will encourage further Bitcoin adoption by eliminating “punitive taxation measures” that hamper everyday transactions. Additionally, the White Paper highlights how countries like Germany, Portugal, and Japan have already taken steps to clarify taxation and legal status for Bitcoin users and businesses. Another point of emphasis is fair treatment of Bitcoin mining. Recognizing mounting concerns about energy usage, the policy encourages the integration of mining with renewable or “stranded” energy sources to stabilize power grids and reduce environmental impact: “Bitcoin mining should not be subject to regulations that disproportionately affect the industry. Any regulatory measures must be technology-neutral and focused on broader market stability, grid integrity, and environmental standards.” According to the Libertarian Party, these approaches can help Australia avoid the pitfalls seen in other jurisdictions—such as China, where an outright mining ban led to significant industry disruption. Reactions to the Libertarian Party’s announcement have been mixed. An Australian Bitcoiner remarked: “As an Australian the Libertarian Party is relatively new outside the big two party’s, they won’t get double digits of the vote when the election is finally held. The two majors have no BTC policy that I know of & we really are a backwards country—I won’t hold my breath for any either.” Thus, no immediate impact on the BTC price can be expected. At press time, BTC faced further downward pressure and traded at $79,101. Featured image created with DALL.E, chart from TradingView.com
Brendan Gunn is the director of an Australian firm that facilitates investment in crypto and other overseas investments.
The new offering facilitates tailored and diversified exposure to digital assets
The Australian Securities and Investment Commission (ASIC) has filed a lawsuit against Oztures Trading Ltd—the operator of Binance Australia Derivatives—over inadequate customer protection practices. According to a Dec. 18 statement, the regulator claims that over 500 retail investors were misclassified as wholesale clients, denying them crucial consumer safeguards. ASIC’s allegations ASIC alleged that between July […]
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The Australian Securities and Investments Commission (ASIC) has fined Bit Trade—the operator behind the Kraken exchange—$5 million for unlawfully issuing a credit facility, according to a Dec. 12 statement. The penalty follows a federal court ruling that found the company in breach of regulatory obligations. Per the statement, Bit Trade offered a “margin extension” product […]
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Australia proposes tighter AML/CTF rules targeting crypto exchanges, legal services and real estate to combat financial crime.
Kraken Australia operator Bit Trade must pay $5 million plus court costs after the Federal Court sided with the country’s corporate watchdog.
The companies indicated plans to expand their partnership to the United Kingdom and other European countries in the coming months.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has intensified efforts to enforce Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regulations among crypto ATM providers. On Dec. 6, the watchdog said that crypto ATMs are increasingly used for money laundering and other illicit activities. Despite the country having around 400 registered crypto exchanges, only a small portion […]
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The Australian Securities and Investments Commission (ASIC) is inviting public feedback on proposed changes to its crypto regulation framework, as outlined in a Dec. 4 announcement. According to the statement: “ASIC’s position continues to be that many digital assets are financial products under the current law. [This feedback request] is aligned to and supportive of […]
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First crypto seizure by Victoria Police underscores a new legal framework empowering officers to confiscate digital assets via search warrants.
The launch of Monochrome Ethereum ETF follows the crypto investment firm's spot bitcoin ETF, which went live in August.
Australia's police has confiscated $6.4 million in cryptocurrency as part of a global crackdown on Ghost, an encrypted communications network, authorities allege was “built solely for the criminal underworld,” a statement said.
The Australian Federal Police said an analyst cracked the seed phrase to a crypto account belonging to the alleged creator of an organized crime messaging app.
Australian pension funds can expect a pitch soon for saving money on fees with a stablecoin.
Stablecoin giant Circle has signalled its plans to bring its digital currency, USDC, into Australia and beyond with the unveiling of a partnership with venture capitalist Mark Carnegie's MHC Digital Group, the companies announced on Tuesday.
Australia's crypto industry is concerned companies will move offshore after the nation's securities regulator set off "the crypto fire alarm."
Australia is taking considerable measures to regulate the cryptocurrency business, with the goal of improving consumer safety and reducing fraudulent activity. Related Reading: Digital Assets On The Table: Kamala Harris Promises To Invest In America’s Future The Australian Securities and Investments Commission (ASIC) has revealed intentions to compel cryptocurrency enterprises, including exchanges, to seek financial […]
Licensing requirements for crypto exchanges in Australia will be extended beyond those related to digital currency exchanges.
The Reserve Bank of Australia made a strategic commitment to prioritize work on a wholesale CBDC.
RBA Assistant Governor Brad Jones said the potential benefits of a retail CBDC in Australia appear modest or uncertain at present.
The number of new crypto ATMs in Australia has surged 17 times over the past two years, but TRM Labs has warned about their use in scams, fraud, and crime.
The Federal Court of Australia ruled on Friday that cryptocurrency exchange Kraken's operator in Australia, Bit Trade Pty Ltd, "contravened" with a section of the nation's Corporations Act.
The cypro scams amounted to about 9% of the total fake investment platforms taken down in the first year of its investment scam disruption program.