Australia: Crypto Companies Under Fire in 2024

- A KPMG study showed that more than 7% of fintech companies in Australia closed in 2024, and the crypto industry was hit the hardest.

- Of the 60 closed fintech firms, 14% were from the blockchain and crypto sector.

- ASIC proposed stricter licensing for crypto companies, and AUSTRAC plans to focus on the crypto industry in 2025. 💼

The future of crypto in Australia is in question.