Australian Bitcoin Industry Body Challenges ABC Over Misleading Bitcoin Report

Source: DefiPlanet Original Title: Crypto Industry Body Challenges ABC Over ‘Misleading’ Bitcoin Report Original Link: https://defi-planet.com/2025/12/crypto-industry-body-challenges-abc-over-misleading-bitcoin-report/

ABIB Alleges ‘Outdated Narratives’ and Factual Errors

The Australian Bitcoin Industry Body (ABIB) has lodged a formal complaint with the Australian Broadcasting Corporation (ABC), accusing the national broadcaster of publishing an article that misrepresented Bitcoin and breached its editorial standards.

According to the complaint, ABC’s report framed Bitcoin primarily as a volatile asset and a tool commonly used by criminals, a portrayal ABIB says ignores well-documented humanitarian, energy-grid, and financial-inclusion use cases.

The industry group argued that the article relied on “sensational language over evidence,” overlooked publicly available data, and conflated Bitcoin with broader illicit activity.

ABIB said it regularly receives messages from the public about similar misrepresentations in Australian media, particularly from publicly funded institutions.

Data Contradicts Claims About Criminal Activity

ABC’s article suggested Bitcoin remains popular among criminal networks and “shady governments,” though even the piece acknowledged stablecoins like Tether are increasingly used instead.

ABIB countered that a January report from Chainalysis found just 0.14% of all on-chain crypto transactions in 2024 were linked to potential criminal activity. By comparison, the UN Office on Drugs and Crime estimates that illicit funds flowing through fiat systems account for about 3.6% of global GDP.

The ABC report also claimed Bitcoin has failed to achieve its stated objectives, has limited legitimate use, and no longer functions as a reliable store of value, assertions ABIB says contradict global adoption trends.

ABC Yet to Respond; Case Could Escalate

Under ABC’s Code of Practice, the broadcaster has 60 days to address the complaint. If it fails to do so, or if ABIB deems the response inadequate, the matter can be escalated to the Australian Communications and Media Authority (ACMA).

ACMA may launch a formal investigation and, if a breach is confirmed, issue warnings, infringement notices, or make licensing-related decisions.

Meanwhile, Australia is tightening oversight of its digital asset sector with a new bill that would bring crypto platforms under existing financial services laws, a shift aimed at protecting consumers and strengthening industry standards.