Cryptocurrency investment and trading are fully legal in Australia, and the country has established a clear regulatory framework to ensure consumer protection and financial stability. The Australian Securities and Investments Commission (ASIC) and the Australian Transaction Reports and Analysis Centre (AUSTRAC) oversee cryptocurrency exchanges and businesses to prevent fraud and money laundering. Additionally, the Australian Taxation Office (ATO) regulates the tax treatment of cryptocurrencies, classifying them as property subject to capital gains tax (CGT).
| Cryptocurrency Platform | Good For | Number of Cryptocurrencies | Costs & Fees | Customer Reviews | More Info |
|---|---|---|---|---|---|
 | Investors | 120 | 1% | (Based on 277 reviews)
| See Offer Capital at risk |
 | Banking | 30 | 1.49% | (Based on 934 reviews)
| See Offer Capital at risk |
 | Beginners | 150 | 3.5% | (Based on 1 reviews)
| See Offer Capital at risk |
Is Cryptocurrency Legal in Australia?
Yes, cryptocurrency is legal in Australia, and individuals and businesses are allowed to buy, sell, and trade digital assets. Since 2017, Australia has recognized cryptocurrencies as legal property, making them subject to existing financial and taxation laws. However, investors must comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations when using cryptocurrency exchanges.
Who Regulates Cryptocurrency in Australia?
- ASIC – Regulates crypto-related financial products and ensures compliance with consumer protection laws.
- AUSTRAC – Enforces AML and Counter-Terrorism Financing (CTF) laws for crypto exchanges operating in Australia.
- ATO – Oversees tax obligations for cryptocurrency transactions, including capital gains tax on profits.
- Reserve Bank of Australia (RBA) – Monitors the broader impact of digital currencies on the financial system.
Exchanges and businesses offering cryptocurrency-related services must register with AUSTRAC and adhere to strict reporting requirements. Non-compliance can result in fines or operational bans.
How to Trade Cryptocurrency Safely in Australia
To trade cryptocurrency safely, investors should use regulated exchanges, enable two-factor authentication (2FA), and store assets in secure wallets (hardware wallets like Ledger or Trezor are recommended for long-term holdings). Since crypto transactions are subject to CGT, keeping detailed records of trades is essential for tax reporting to the ATO.
Conclusion
Cryptocurrency trading and investment are legal and regulated in Australia, with ASIC, AUSTRAC, and the ATO ensuring compliance with financial laws. Australian-based exchanges like Swyftx, BTC Markets, and CoinSpot provide secure platforms for trading digital assets. Investors should remain aware of their tax obligations and implement strong security measures when engaging in crypto transactions.
