The australian cryptomarket might reach 1 million users this year. by 2023, over a million australians will have acquired cryptocurrency for the first time. analysts predict that the overall number of cryptocurrency users will approach 5 million in the next 12 months. within a few years, more than half of adult australian residents under the age of 50 will own cryptocurrency.

almost a quarter of australians own cryptocurrencies or have prior experience with digital assets. the absence of dependable government regulation and a lack of awareness of crypto technological principles are among the key negative factors impacting the degree of digital asset ownership. the australian ministry of finance aimed to exclude cryptocurrency assets from taxes as a foreign currency and urged individuals to participate in this discussion.

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