• The Australian Bitcoin Trade Physique (ABIB) has filed a proper criticism with the ABC over a column that claimed Bitcoin serves ‘no helpful goal’ and linked it to cash laundering.
  • ABIB argues the article breaches ABC’s editorial requirements by utilizing “outdated tropes” and ignoring use instances and institutional adoption.
  • The physique is demanding the ABC publish corrections and use subject-matter specialists for future protection on digital belongings.

The Australian Bitcoin Trade Physique (ABIB) has lodged a criticism with the ABC over a column that described Bitcoin as having “no helpful goal” and claimed its “final helpful enterprise” was cash laundering.

The piece, written by chief enterprise correspondent Ian Verrender, highlighted Bitcoin’s fall from US$126,000 (AU$190,650) to under US$90,000 (AU$136,170) and framed the asset largely by way of value swings and alleged failures.

Curiously, Verrender fails to say that, regardless of Bitcoin’s occasional erratic efficiency, it’s now BlackRock’s biggest revenue generator by way of its Bitcoin spot ETF, the iShares Bitcoin Belief (IBIT).

ABIB says the column breaches the ABC’s personal editorial requirements by counting on “outdated tropes” about volatility and US politics whereas ignoring documented use instances for Bitcoin. 

Its submission identifies the precise sentences in query, hyperlinks them to alleged coverage breaches, and asks the broadcaster to publish corrections, meet its editorial obligations, and draw on subject-matter specialists when masking digital belongings.

Associated: Top Crypto Savings Accounts in Australia

ABIB Says It Will Combat For Accuracy and Integrity Round Bitcoin

In an announcement, the trade group stated it will maintain pushing for “accuracy and integrity in public discourse” round Bitcoin.

Our submission cites the offending sentences instantly, outlines every breach of coverage, and calls on the ABC to situation corrections, uphold its editorial obligations, and interact subject-matter experience in future reporting. ABIB will proceed advocating for accuracy and integrity in public discourse.

Australian Bitcoin Trade Physique (ABIB)

The dispute comes as Australia strikes to formalise crypto regulation. 

In November, Treasurer Jim Chalmers and Monetary Providers Minister Daniel Mulino launched the Firms Modification (Digital Belongings Framework) Invoice 2025, the primary complete algorithm for firms that maintain crypto on behalf of consumers.

The ministers have argued that blockchain and digital belongings current “large alternatives for our financial system, our monetary sector, and our companies.” Authorities estimates counsel the reforms could deliver about $24 billion in annual productiveness positive factors whereas tightening protections for Australians who use non-public platforms to retailer their digital belongings.

Learn extra: Kalshi Goes Onchain With Solana in Bid to Challenge Polymarket

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