TechFlow news, October 23 — According to Decrypt, a recent survey by Australian cryptocurrency exchange Swyftx reveals that despite the government's comprehensive regulatory reforms, the Australian crypto market remains stagnant and public trust continues to decline. Nearly 60% of Australians say they do not trust crypto assets, up three percentage points from last year. Young investors remain the core market participants, with 82% of Gen Z traders reporting profits, averaging around AUD 9,958. The Albanese government has introduced several reforms this year, including an exchange licensing regime, a stablecoin regulatory framework, and the Payment Systems Modernization Act. Swyftx CEO Jason Titman stated that once regulatory frameworks are formally established, millions of Australians are expected to enter the crypto market.
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