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The Independent Reserve Cryptocurrency Index (IRCI) is an annual cross-poll of over 2,000 Australians conducted by the Australian Cryptocurrency Exchange. Independent Reserve. This exchange was founded in 2013 and now has over 200,000 users. The index is a single ranking of 100 cryptocurrencies, reflecting four aspects of Australia’s attitude towards cryptocurrency:
• Awareness
• Adoption
• Trust
• Confidence.
2021 will be the third year of the survey. The Independent Reserve says its sample reflected the gender, age and geographic distribution of the country.
According to the report, the number of Australians holding cryptocurrencies has grown to 28.8%, up from 18.4% in 2020. Overall cryptocurrency awareness among Australians has been stable this year, with 91.2% having heard of at least one cryptocurrency and Bitcoin (BTC), which continues to lead in market awareness with 89.1% of respondents hearing about the asset.
Ripple is the third most popular cryptocurrency in Australia, now it is owned by 5.7% of Australians, up from 5.1% in 2020.
In second place is Ethereum, which has grown to 36.7% awareness in 2021 from 23.5% last year. Among the 18-24 year olds, they were the most familiar with Ethereum. This age group also saw a significant increase in awareness of Ripple, the payment asset and the money transfer system, from 13.5% in 2020 to 20.3% in 2021.
Australia strives to take the lead in cryptocurrency adoption. The Australian government is seriously considering implementing a central bank digital currency (CBDC) and has supported numerous forward-looking cryptocurrency regulatory proposals as part of a new “payment and crypto reform plan”.
The government supports six of the nine reforms proposed by the Senate committee, including a licensing regime for crypto exchanges, laws governing decentralized autonomous organizations, and a general access regime for new payment platforms.
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