OKX Australia CEO: May Election Could Unlock Crypto’s Institutional Floodgates

Crypto’s Big Moment: The Australian Election

Australia’s federal election, happening on or before May 17, 2025, is more than just a political event. It could be a game-changer for cryptocurrency in the country. Kate Cooper, the CEO of OKX Australia, thinks this election could be a turning point for crypto[3]. Let’s explore how this election might affect crypto policies and how crypto investors could influence the outcome.

The Growing Power of Crypto Voters

Cryptocurrency is becoming more popular in Australia. About 22% of voters, which is around four million adults, have invested in crypto[1][5]. Many of these investors, about 59%, want to vote for candidates who support crypto-friendly policies. That’s nearly two million people who could swing the election[1][5]. These crypto voters are usually young, wealthy, and live in suburban areas—places that often decide elections[1].

Politics and Crypto Policies

The election is close. The center-right Coalition, led by Peter Dutton, is slightly ahead of the incumbent Labor Party, led by Prime Minister Anthony Albanese[1][5]. The result could be a ‘hung parliament,’ where no single party wins a majority. In this case, the crypto-voting bloc could be the key to deciding who forms the government[5]. However, there’s a generation gap. Only 18% of voters over 50 are likely to support pro-crypto politicians, so the crypto sector needs to communicate better with older voters[1][5].

Clear Rules for Crypto to Grow

For crypto to grow in Australia, clear rules are needed. Cooper says retail users are already using crypto, but big institutions need clear, suitable regulations to move forward[3]. The Australian government has been working on these rules since August 2022, and the election could speed up this process[3].

A New Era for Crypto in Australia

The Election’s Impact on Crypto

The May election could let crypto really take off in Australia. With millions of crypto investors potentially influencing the outcome, the election could be a referendum on Australia’s approach to digital assets. No matter who wins, clear regulations and pro-crypto policies will be crucial for Australia to lead in the digital economy and for crypto to reach its full potential.

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Sources:
– Bitget
– Cointelegraph
– IcoHolder