The comments from the Australian Prudential Regulation Authority (APRA) come as merchant payments company Peregine announced it would allow crypto payments on its point-of-sale terminals from July.

In partnership with, the crypto payments option will apply to 170 convenience stores across Australia using Peregrine's terminals.

Such retailers include Smokemart and Giftbox outlets, C Coffee cafes, Subway, Oporto, and Wokinabox.

Executive chairman of Peregrine Yasser Shahin said crypto payment options add to customer convenience.

"The growth and mainstream acceptance of cryptocurrency adoption in Australia and the rest of the world has been phenomenal and has offered us a clear opportunity to tap into the momentum of this fast-growing space for the benefit of our customers," Mr Shahin said.

On Friday crypto exchange platform CoinSpot announced it had partnered with prestige car retailer Dutton Garage to allow customers to purchase vehicles with cryptocurrencies.

Using CoinSpot's over-the-counter (OTC) trading desk, luxury car shoppers can pay for their purchase in more than 30 cryptocurrencies including Bitcoin and Ethereum. 

Gary Howells, CoinSpot chief product officer, said this legitimises using crypto for purchases rather than as an investment vehicle.

"Increasing crypto’s utility is the key to driving mass adoption of what we believe is the future of finance," Mr Howells said.

"Whether that’s a Bored Ape NFT ... or buying a Porsche 911 with Bitcoin from Dutton Garage."

APRA chair Wayne Byres provided further detail on how the regulator is approaching new payments and digital currencies.

"Talk of regulation is often framed in the negative - in terms of restrictions and red tape," Mr Byres said.

"But it can provide a stamp of approval that reassures customers a company or product can be trusted, allowing new markets and services to flourish.

"There remains significant uncertainty over what a more digital and decentralised financial system will ultimately look like, which new types of money will gain prominence, which products and services will take off, and which will fade away as newer, better alternatives emerge."

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