According to Cointelegraph, the current government of Australia has said that it has no plans to establish a strategic cryptocurrency reserve at this time. A spokesperson for Australia's Assistant Treasurer and Financial Services Minister Stephen Jones told Cointelegraph that the Albanese government is focused on regulating digital asset platforms and is developing a regulatory framework appropriate for digital assets. Tom Matthews, head of corporate affairs at Australian exchange Swyftx, believes that while the idea of crypto reserves is popular, it could be "fraught with complexity" and could lead to a concentration of risk for certain tokens. Jonathan Miller, managing director of Kraken Australia, said cryptocurrencies have established themselves as investment-grade assets.