The Australian Government does not plan to create a strategic cryptocurrency reserve, even after US President Donald Trump recently announced a similar initiative in the United States.
On March 2, President Trump revealed that the President's Task Force on Digital Assets has been instructed to incorporate cryptocurrencies such as XRP, Solana, Cardano, Bitcoin and Ether into the US strategic cryptocurrency reserve.
Several US states are also considering adding cryptocurrencies to their financial holdings. However, Australia's current ruling party has no intention of establishing a similar reserve.
Stephen Jones, Australia’s Assistant Treasurer and Financial Services Minister, has said the government is prioritizing the regulation of digital asset platforms.