Australia faces criticism for its slow regulatory response to the burgeoning cryptocurrency industry, potentially hindering its competitiveness on the global stage. Experts urge the government to implement comprehensive legislation to support innovation and protect investors. 

Investor and "Shark Tank" star Kevin O'Leary observes that under President Donald Trump's second term, cryptocurrency is transitioning from its "cowboy era" to a more regulated and institutionalized phase. Following high-profile legal actions against figures like Sam Bankman-Fried and Changpeng Zhao, O'Leary believes that increased regulation will integrate crypto more deeply with traditional financial systems.