🇦🇺 Australia is experiencing significant upheaval in the fintech industry, especially in blockchain & crypto!

- More than 7% of Australian fintech companies closed in 2024, with blockchain & crypto being the hardest hit, according to KPMG.

- The number of independent fintech companies decreased from 800 (2022) to 767 (2024).

- 14% of blockchain & crypto companies have ceased operations, but hope remains with recent pro-crypto events like the Bitcoin ETF in the U.S.

- ASIC proposed a financial licensing regime for crypto companies, while AUSTRAC is focusing on reducing money laundering through crypto.

What do you think about the future of crypto in Australia? Comment below! 💬