As U.S. President Donald Trump announces five digital currencies for the country's crypto reserve, the Australian government confirms it has no plans to create a similar stockpile.

A spokesperson for Assistant Treasurer and Financial Services Minister Stephen Jones emphasized the government's commitment to regulating digital and crypto platforms, but clarified that there were no current plans for a crypto reserve in Australia.

Instead, the Labor Party's focus remains on regulating digital asset platforms, reported Sky News.

"The Albanese government has consulted on our proposed framework to build a fit-for-purpose digital asset regulatory regime,........

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