Australian crypto industry voices concerns over de-banking, slow legislation

Despite market growth from increased user numbers and ETF listings, Australia's cryptocurrency industry continues to face regulatory uncertainty, Cointelegraph reported. Speaking at the 'XRP Australia 2026' event in Sydney on Feb. 27, Kate Cooper, CEO of OKX Australia, argued that restrictions on banking services for exchanges remain in place. John O'Loghlen, Coinbase's managing director for the APAC region, also called for an end to de-banking. He expressed concern that non-custodial wallet developers and public blockchain infrastructure providers could face excessive regulation amid reforms to payment service provider rules. Additionally, Bill Morgan, a pro-XRP Australian lawyer, commented that discussions on crypto-related legislation have slowed since the change in government.