- The Australian Bitcoin Industry Body (ABIB) files a complaint against ABC for misrepresenting Bitcoin’s use in criminal activities
- ABIB calls for corrections, citing Bitcoin’s legitimate applications in energy, remittances, and sovereign reserves.
- Crypto adoption in Australia grows, with new regulations for digital assets aimed at protecting consumers and promoting innovation.
The Australian Bitcoin Industry Body (ABIB) has filed a formal complaint against the Australian Broadcasting Corporation (ABC). The complaint concerns what ABIB calls inaccurate and misleading coverage of Bitcoin. The Bitcoin industry group claims the article unfairly focused on Bitcoin’s use in criminal activities while ignoring legitimate applications.
Industry Body Cites Inaccuracies in ABC’s Reporting
ABIB highlighted several inaccuracies in the ABC article. The article, written by Ian Verrender, portrayed Bitcoin as a tool for money laundering. It described Bitcoin as having “no useful purpose,” focusing on its price volatility and alleged failures. According to ABIB, the report overlooked the legitimate uses of Bitcoin in sectors like energy stabilization, remittances, and sovereign reserves.
The Bitcoin industry body argues that the coverage misrepresents Bitcoin’s broader role. “Bitcoin is used globally for purposes beyond the outdated criminal activity narrative,” said an ABIB spokesperson. The complaint also pointed out that the article ignored factual information available on Bitcoin’s applications. ABIB requested that ABC issue corrections and engage with experts on Bitcoin for future reporting.
Complaint Comes as Crypto Adoption Rises in Australia
The complaint comes as Australia experiences a rise in crypto adoption. The country’s crypto adoption rate reached 31% in 2025, up from 28% the year before. According to the a16z State of Crypto 2025 report, this puts Australia among the world’s most crypto-engaged populations. The growing crypto engagement follows broader regulatory changes in the country.
In November 2025, the Australian government proposed the Corporations Amendment (Digital Assets Framework) Bill, which was to provide the necessary guidelines for regulating the activities of crypto companies and, in that way, to improve the situation with the exchanges and custodians. ABIB has voiced concerns about recurring misrepresentation of Bitcoin in the media.
The industry body believes publicly funded institutions, such as ABC, are responsible for delivering accurate journalism. Members of ABIB frequently express frustration over biased coverage that overlooks Bitcoin’s positive use cases. ABIB’s complaint specifically criticized the one-sided framing in the ABC article. The piece focused almost entirely on Bitcoin’s price swings and its connection to U.S. politics. ABIB argues that such coverage harms public understanding of Bitcoin and its potential benefits.
Australia’s Regulatory Framework for Digital Assets
The complaint comes in the midst of the continuous evolution of Australia’s regulatory framework for digital currencies. The government in Australia brought in new crypto exchange regulations towards the end of 2025. The measures, which are to consumer protection, also intend to spur the adoption of new technologies in the digital assets market.
The digital assets market will be regulated by requiring all the crypto exchanges to obtain an Australian Financial Services License. The Australian Securities and Investments Commission (ASIC) also made its position clearer regarding digital assets in October 2025. ASIC’s guidance consists of the licensing criteria for stablecoins, wrapped tokens, and even digital wallets. ASIC is convinced that the security and transparency of digital asset transactions will be guaranteed through these measures.
