New “SMSF Innovation Council” Unites Industry Leaders to Drive Digital Transformation of Australia’s $1T Retirement Sector
18 June 2025 — A consortium of high-profile finance industry leaders have today launched an “SMSF Innovation Council” at the Australian Digital Economy Conference in Queensland, to help Australia’s $1.02 trillion SMSF industry navigate digital transformation through emerging digital assets, infrastructure, and tools.
The 12-member founding Council is composed of trustees, accountants, auditors, fintech leaders, and policy influencers from across some of Australia’s most influential organisations in the SMSF, fintech and digital asset sectors.
The Council is chaired by Kate Cooper, CEO of cryptocurrency platform and onchain technology company OKX Australia.
The consortium was formed to offer the SMSF industry a non-commercial, industry-led forum designed to foster collaboration and share knowledge to help trustees and professionals to explore the future of investing in a responsible and compliant way.
Its creation follows the release of multiple studies revealing that digital finance innovation could generate significant economic benefits for Australia.
For instance, according to the Tech Council of Australia, the digital assets sector could add up to $60 billion to Australia's GDP by 2030, if supported by the right policies and regulatory settings.
Australia’s leading SMSF administration platform with around 49 percent market share of the 645k+ SMSFs in Australia, BGL Simple Fund 360, also revealed that 3.6 percent of SMSF tax returns lodged through its platform in the 2024 financial year included cryptocurrency holdings. These funds totaled over $919 million in value, demonstrating strong interest and investment in crypto assets within the SMSF space.
The formation of the Council comes ahead of the launch of OKX Australia's SMSF offering, featuring institutional-grade security protocols, automated reporting tools and dedicated onboarding staff for SMSF trustees.
The Council's inaugural roundtable discussion also took place today at Australia’s premier event for showcasing the technologies shaping our future economy, the Australian Digital Economy Conference, hosted by Australia’s peak industry body for blockchain, digital assets and emerging technologies, the Digital Economy Council of Australia (DECA).
During this roundtable, Kate Cooper and OKX Australia SMSF Business Development Manager Helen Molloy discussed how SMSFs are adapting to new asset classes and evolving alongside trustee expectations and regulatory complexity.
They also explored the demand of SMSF trustees in relation to the remarkable 719 percent five-year growth in digital asset allocations through Australian SMSFs in the past five years, despite a significant advisory gap in the market.
Kate Cooper, CEO of OKX Australia, said: "As Australia's retirement landscape evolves, SMSFs represent a critical pillar of financial self-determination for Australians. The mission of the Council is to create opportunities for technology development, knowledge-sharing and public-private consultation needed to incorporate aspects of the digital economy into diversified retirement portfolios, while ensuring trustees navigate digital economy opportunities with proper governance."
Shelley Banton, SMSF Innovation Council member and Head of Technical at ASF Audits, said: “Digital assets are now part of SMSF portfolios, but reporting and audit standards haven’t kept up. I joined the Council to help shape practical frameworks that make crypto audit-ready, not audit-challenging.”
Shane Brunette, SMSF Innovation Council member and Founder & CEO of Crypto Tax Calculator, said: “We process thousands of SMSF crypto tax reports and see firsthand where users and professionals struggle. The Council is a great opportunity to turn those pain points into smart, scalable solutions.”
Key focus areas of the SMSF Innovation Council include:
Best Practice Governance: Developing practical, future-ready frameworks that support compliance while enabling trustees to confidently participate in Australia’s evolving digital economy
Education & Support: Providing accessible tools, guidance, and shared knowledge to build confidence among trustees, advisers, and SMSF professionals as the digital economy evolves
Regulatory Clarity: Contributing to industry dialogue and policy development to help shape fit-for-purpose regulation that supports innovation and safeguards trustee outcomes
Trustee Advocacy & Insight: Elevating real trustee experiences to shape industry priorities, inform product development, and ensure the trustee voice is central to the future of SMSFs in a digital-first world
The SMSF Innovation Council founding members include:
Kate Cooper, DECA founding member and OKX Australia CEO
Shane Brunette, Crypto Tax Calculator Founder & CEO
Jeevan Tokhi, General Manager - Product, BGL Corporate Solutions
Michael Jeffriess, Group CEO at LightYear Docs, We Love Group and Naked Accounting
Shelley Banton, ASF Audits Head of Technical
David Saul, CEO & Managing Director at Saul SMSF
Shane Mays, Partner at PKF Melbourne
About OKX Australia
OKX Australia is a technology company building a decentralized future that makes the world more tradable, transparent and connected. We're known for being one of the fastest and most reliable crypto apps in the world, and have processed trillions of dollars in transactions.
We're steadfastly committed to transparency and security and publish Proof of Reserves reports on a monthly basis. To learn more about OKX, download our app or visit: okx.com.
