‘Penny hasn’t dropped’ for Australia’s next crypto unicorns — Coinbase APAC MD

Coinbase APAC managing director John O’Loghlen says Australian policymakers and TradFi firms simply haven’t woken up to the level of innovation emerging out of the country’s crypto sector.

Australia is primed for its next wave of crypto “unicorns” — startups with a billion-dollar valuation — but not until there is more regulatory clarity around crypto, according to Coinbase’s APAC managing director John O’Loghlen.

“I don’t think the penny’s dropped in Canberra or on the high street in terms of just how much great human capital there is in Australia,” O’Loghlen told Cointelegraph — referring to policymakers and large institutional players.

While O’Logheln acknowledged there while there had been some regulatory advancements — including the Treasury’s October 2023 consultation paper and an informal regulatory meeting with policymakers at the Blockchain APAC Summit in March — he says it’s still lagging behind a huge uptick in retail and institutional demand for crypto.

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