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A survey from Australian crypto exchange Independent Reserve found local crypto holders were split with their views on Donald Trump when it came to crypto.
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Donald Trump’s election as US president has sent crypto markets soaring on his promises to back the sector, but only around a third of Australians say he’s good for crypto, according to a recent survey.
Australian crypto exchange Independent Reserve’s survey of 2,100 local adults released on Feb. 21 found that 31% saw Trump as good for crypto, while 8% said he’s bad for the industry.
The majority of respondents — around 60% — were neutral on the topic.
The survey found that crypto investors were far more positive about Trump than their non-investing counterparts.
Half of Australian crypto investors said he was positive for crypto, while 44% were neutral. Only 6% said he was bad for the space.
Of the non-crypto investors, only around 20% said he was positive for crypto, while 10% considered him bad for the sector.
Bitcoin (BTC) is trading at $91,100 and has jumped over 40% since Trump was elected on Nov. 5. BTC hit a peak of $108,786 on Jan. 20 — the same day he re-entered the White House.
The more crypto-invested were more positive on Trump — those putting $6,400 (10,000 Australian dollars) a month into crypto had no negative views of him. Source: Independent Reserve
“There is widespread anticipation that his pro-crypto policies will foster innovation and broader adoption of digital assets,” said Independent Reserve CEO Adrian Przelozny.
The survey comes after Swyftx said on Feb. 19 that a YouGov poll of over 2,000 Australian voters found that 59% of current crypto investors are more likely to vote for a pro-crypto candidate this election — which could mean a pro-crypto voting bloc of around 2 million Australians.
Australia’s federal election must be held by May 17, and recent polls show that there could be a close race between the current center-left government and the center-right opposition.
Independent Reserve found that Australian crypto adoption has peaked since it started its survey in 2019, with almost a third of respondents reporting they currently own or have owned crypto.
Australians who own or have owned crypto have jumped by nearly 16 percentage points over the past six years. Source: Independent Reserve
Nearly 20% of those surveyed said their bank had prevented them from buying crypto or had delayed a payment to an exchange.
Related: Australian regulator’s ‘blitz’ hits crypto exchanges, money remitters
“Locally, while the sector is experiencing robust growth, challenges in regulatory clarity and market volatility persist,” Przelozny said.
“The actions of traditional financial institutions, such as banks blocking or delaying crypto investment activities, highlight the need for clear and supportive regulation to ensure the sector’s legitimacy.”
Luke Howarth, the shadow assistant treasurer and shadow financial services minister for the main opposition party, said on LinkedIn earlier this month that the ruling Labor government “has left much-needed regulation in the bottom drawer.”
“If we are fortunate enough to form [a] government, the [center-right] Coalition will work quickly to put in place fit-for-purpose regulation which keeps Australia up with the rest of the world and provides much-needed regulatory certainty,” he added.
Meanwhile, the Labor government, led by Prime Minister Anthony Albanese, wrapped a consultation on a crypto framework at the end of 2023, but its unclear when it will draft legislation.
Magazine: How crypto laws are changing across the world in 2025
This article first appeared at Cointelegraph.com News
