Crypto Industry Files Complaint Against Australia’s ABC Over Bitcoin Article
The Australian Bitcoin Industry Body has filed a proper grievance with the Australian Broadcasting Corporation over what it calls “factually inaccurate and deceptive” protection of Bitcoin, escalating tensions between the nation’s rising crypto sector and conventional media.
The grievance targets an ABC article that portrayed Bitcoin primarily as a car for cash laundering whereas ignoring documented use circumstances in vitality stabilization, humanitarian remittances, and sovereign reserves.
The transfer comes as Australia’s crypto adoption rate outpaced even the US, reaching 31% in 2025, up from 28% in 2024, putting the nation among the many world’s most crypto-engaged populations in accordance with a16z’s State of Crypto 2025 report.
ABIB stated it receives frequent contact from annoyed members relating to recurring misrepresentation of Bitcoin in Australian media, notably from publicly funded establishments required by statute to supply correct journalism.
Industry Body Cites Multiple Policy Breaches
ABIB’s submission identifies particular sentences that it alleges breach the broadcaster’s editorial insurance policies and code of conduct.
The grievance facilities on one-sided framing that conflates Bitcoin with felony exercise whereas omitting publicly obtainable details about respectable purposes.
The ABC article, written by chief enterprise correspondent Ian Verrender, characterised Bitcoin as having “no helpful goal” and described cash laundering as its “final helpful enterprise.”
The piece targeted on Bitcoin’s value volatility, dropping from $126,000 to under $90,000, whereas emphasizing the cryptocurrency’s alleged failures.
ABIB countered that the protection diminished Bitcoin to outdated tropes targeted on value swings and U.S. politics, calling on ABC to challenge corrections and interact subject-matter experience in future reporting.
Complaint Arrives Amid Regulatory Transformation
The dispute arises amid important regulatory evolution in Australia’s digital asset sector.
In November, Treasurer Jim Chalmers and Financial Services Minister Daniel Mulino introduced the Corporations Amendment (Digital Assets Framework) Bill 2025, establishing the nation’s first complete regulatory framework for firms holding crypto on behalf of shoppers.
The ministers stated they “take Australia’s crypto trade severely,” including that blockchain and digital belongings current “huge alternatives for our financial system, our monetary sector, and our companies.”
The authorities’s reforms may unlock $24 billion in annual productiveness positive aspects whereas strengthening safeguards for Australians entrusting their digital belongings to personal platforms.
Australia has launched its first full regulatory framework for crypto custody and change platforms that guarantees harder oversight.#Australia #Cryptohttps://t.co/jzYWZ9Vk6I
— Cryptonews.com (@cryptonews) November 27, 2025
Under the invoice, crypto exchanges and custody suppliers should receive an Australian Financial Services License, bringing them beneath ASIC supervision.
The framework introduces two new license classes. A digital asset platform and tokenized custody platform, with licensed corporations required to adjust to ASIC requirements for transactions, settlement processes, and asset custody.
Regulators Balance Innovation With Protection
ASIC has additionally clarified digital asset regulation whereas supporting trade improvement.
In October, the regulator declared stablecoins, wrapped tokens, tokenized securities, and digital asset wallets to be monetary merchandise beneath present regulation, requiring service suppliers to acquire licenses whereas granting an eight-month transition interval by June 30, 2026.
ASIC Commissioner Alan Kirkland stated, “Distributed ledger know-how and tokenization are reshaping world finance,” and that the steering gives regulatory readability, enabling corporations to innovate confidently.
In reality, ASIC Chair Joe Longo warned that Australia dangers falling behind as blockchain-driven tokenization reshapes world markets, cautioning that except Australia adapts, it may grow to be a “land of missed alternative.“
He famous that J.P. Morgan informed him their cash market funds can be solely tokenized inside two years.
Australia should “seize the chance or be left behind” as tokenization transforms capital markets, warns @ASIC_Connect Chair Joe Longo.#Australia #Tokenization #ASIChttps://t.co/gbJI1uAzb6
— Cryptonews.com (@cryptonews) November 7, 2025
Australia’s institutional crypto engagement has accelerated considerably, with self-managed superannuation funds accounting for 1 / 4 of the pension system and crypto publicity leaping sevenfold since 2021 to A$1.7 billion.
The rising adoption has attracted main gamers, with Coinbase preparing to launch a dedicated SMSF service with over 500 traders on its ready checklist, focusing on the nation’s pension pool, whereas OKX launched the same product in June that exceeded expectations.
The regulatory framework contains an 18-month grace interval earlier than licensing guidelines take impact.
Small operators dealing with lower than A$10 million in annual transaction quantity can be exempt.
For those that would possibly go towards the rule, earlier laws has proposed penalties of up to 10% of annual turnover for platforms breaching guidelines, with corporations going through fines of A$16.5 million, 3 times the profit gained, or 10% of annual turnover for deceptive conduct.
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