In Australia, the Australian Bitcoin Industry Board (ABIB) filed a complaint against ABC News over a Bitcoin article.
Date: 2025-12-05 Author: Gabriel Deangelo Categories: IN WORLD
The Australian Bitcoin Industry Board (ABIB) filed a formal complaint against ABC News over a publication that portrayed Bitcoin as a high-risk, speculative, and virtually worthless asset. The board's statement emphasized that the article contained factual errors and misled readers.
The ABC News article, published on December 1, 2025, focused on criticizing Bitcoin. The author claimed that after the passage of the Genius Stablecoin Act (GENIUS) in the United States, the cryptocurrency had lost its appeal, even for illicit financial transactions. The article called Bitcoin a "Ponzi scheme" and contrasted it with USDT, which, according to the author, is more stable and convenient to use.
The article also noted that Bitcoin has lost its status as "digital gold," no longer replaces the dollar, and is now viewed primarily as a highly volatile financial instrument. ABIB believes this portrayal distorts the purpose of cryptocurrency and gives readers an inaccurate impression of its role in the financial system.
In an official statement, the organization noted that the publication violated ABC editorial policy by using sensationalist language instead of facts. ABIB emphasized that this is not the first instance of inaccurate coverage of the crypto sphere in Australian media, and that it is often contacted by concerned readers who find the article misleading.
In response to the complaint, ABIB expects ABC News to review the complaints and make the necessary adjustments to its editorial policy to avoid similar incidents in the future. The organization also reminds that information about cryptocurrencies should be based on verified data, not the subjective opinions of individual authors.
A cryptoasset regulation bill was previously introduced in Australia, which aims to promote transparency and security in digital currency transactions. These measures are aimed at creating a more stable and transparent environment for investors and market participants, which is especially relevant given the growing popularity of Bitcoin and other cryptocurrencies.
ABIB calls on media outlets to approach cryptocurrency issues more responsibly, providing objective information and taking into account the interests of both the industry and the general public.
