Ripple visibility boosted in Australia as BTC Markets introduce XRP/USDT pair
Australia’s leading cryptocurrency exchange, BTC Markets, has recently expanded its trading offerings. This expansion came as a new XRP/USDT trading pair. This development will likely increase XRP’s visibility in the Australian crypto landscape. Additionally, it offers a new trading option for BTC Markets’ users. Since its establishment in 2013, BTC Markets has traditionally offered AUD […]
Binance Australia temporarily suspends AUD withdrawals and deposits
Binance Australia recently announced that they would temporarily suspend the withdrawal and deposit of the Australian Dollar (AUD) through bank transfers. The decision comes in the wake of an earlier announcement by Binance Australia on May 18, stating that they would no longer support AUD bank transfers through PayID. This change was attributed to a […]
Australian crypto exchanges rise above debanking threats
As Australia delves deeper into the cryptocurrency realm, local exchanges are tenaciously navigating the landscape amid regulatory challenges. Recent upheavals involving Binance Australia and its payments provider, Zepto, brought debanking concerns to the forefront, triggering mixed reactions within the crypto community. When Zepto was directed by its partner firm Cuscal to sever ties with Binance […]
Coinjar seeks to tap into the potential of the American crypto landscape
Coinjar, a leading cryptocurrency exchange from Australia, has set its sights on expanding its presence in the lucrative U.S. cryptocurrency market. This move marks a significant step for the company as it seeks to tap into the enormous potential of the American crypto landscape. On May 1st, Coinjar’s CEO, Asher Tan, expressed his belief that […]
Australia cracks down on cryptocurrency irregularities: Harsh punishments for offenders
The Australian government has become increasingly stringent towards individuals involved in cryptocurrency hacks and other crypto irregularities, which have recently surged. Recent research suggests that those caught engaging in cryptocurrency irregularities face more harsh punishments than those violating fiat currency regulations. Melbourne’s RMIT University analyzed 59 criminal cases related to Bitcoin (BTC) and other digital […]
Australia’s top bank ANZ shocks customers with withdrawal freeze
ANZ, one of Australia’s largest banks, has sparked controversy with its recent decision to cease facilitating withdrawals and deposits from a number of its branches. The move is part of a push by the bank to encourage customers to use an ever-dwindling number of ATMs and deposit machines, but has been met with criticism from […]
Crypto crackdown in Australia as regulators fear SVB-style contagion
The Australian Prudential Regulation Authority (APRA) has increased its supervision of banks in the country after Silicon Valley Bank (SVB) collapsed and Credit Suisse experienced outflows from its customers. The regulator has begun asking banks to declare their exposures to start-ups and crypto-focused ventures, with some banks required to provide daily updates. The move is […]
Australian regulator is raising concerns about FTX collapse
As stated in a document by the regulator Australian Securities and Investments Commission (ASIC), the introduction of FTX in Australia around March 2022 was addressed internally by the regulator, with concerns raised about the validity of return on investment promises. The staff was concerned after hearing a rumor that FTX would enable consumers to acquire […]
Australia Finance Minister wants crypto regulated as a financial product
According to a report from The Sydney Morning Herald, Australia Minister of Financial Services, Stephen Jones, has stated that there are valid reasons for classifying certain cryptos as financial products under the law. This comes as the federal government plans to introduce a bill to regulate the cryptocurrency industry later this year. Jones predicts that cryptocurrency […]
Australia’s NAB mints AUDN stablecoin
The National Australia Bank (NAB) will introduce an Australian dollar-pegged stablecoin on the Ethereum network, making it the second of the “Big 4” Australian banks to do so. According to a Jan. 18 report from the Australian Financial Review, the AUDN stablecoin is scheduled to launch sometime in mid-2023 with the goal of facilitating international […]
Australia is now the fourth-largest crypto ATM hub in the world
According to information provided by CoinATMRadar, an internet analytics company that keeps track of the total number of cryptocurrency ATMs all over the world, Australia has surpassed El Salvador to take the position of the fourth-largest hub for crypto ATMs. The sudden shift came about as a result of Australia installing 99 cryptocurrency ATMs across the […]
Australian Securities Exchange (ASX) abandons $170M blockchain project after 7 years
According to a report published in November 2022, it appears that the Australian Securities Exchange (ASX) has abandoned its 7-year blockchain project aimed at streamlining its activities. The report, prepared by Accenture cited shortcomings that cost the country $170 million in a bid to replace the country’s outdated clearing and settlement system. ASX clearing and […]
Australia: Banxa freezes contracts of upto 40% of its employees
Banxa, an Australian crypto exchange gateway, has cut its employee count by 40%. The exchange enables users to change traditional money into digital ones and vice versa. Back in January, the common shares of Banxa received the ticker symbol for trading when they were first listed on the Toronto Stock Exchange. The listing led to […]
Australian Tax Office targets crypto capital gains, among others
The Australian Tax Office (ATO) has released a report this week outlining areas it will be focusing on in the coming year, including crypto capital gains. The agency announced its four priority areas for this year’s Tax Time on Monday, singling out crypto as a potential area of concern. The taxation body revealed that nearly […]
Australian zoo taps Algorand to launch NFTs for animal conversation
The Australian Zoo, home of Steve Irwin and The Crocodile Hunter, has partnered with Meadow Labs to create the “Wildlife Warriors” collection of non-fungible tokens (NFTs), according to Ticker News. To commemorate the 20th anniversary of Australia Zoo, home of the Crocodile Hunter, the only thing it can do is launch an NFT project, of […]
Senator Andrew Bragg backs the listing of local ETFs in Australia
Earlier today, pro-crypto lawmaker Andrew Bragg reached out to the ASIC, asking it to prioritize the locally developed crypto assets like ETFs during its listings. He wrote to them after a locally made ETF that was supposed to list last week was delayed. Bragg has also clarified that he has no intentions to fight against […]
AUSTRAC rolls out guide to detect crypto crimes
TL; DR Breakdown AUSTRAC release guides to identify crypto crimes Australia registers a surge in ransomware cases AUSTRAC highlights behaviors of users affected by ransomware attacks The Australian agency charged with monitoring compliance, AUSTRAC, has released new guides to help companies spot assets being by malicious actors. According to the agency, investments will be able […]
AO rolls out exclusive NFTS to commemorate iconic historical moments
TL;DR Breakdown The Australian Open announced its partnership with NFT firm sweet.io to roll out the AO Decade Collection. The collection features six different NFT collections that celebrate AO’s rich history. AO has collaborated with NFT platform Sweet.io to roll out digital collectibles. The collectibles are based on memorable events in AOs past. It has […]
SEC charges founder of a crypto startup with ‘Fraud and Unregistered’ ICO offering
TL; DR Breakdown The SEC charged a crypto startup and its proprietor with fraud. Most traders consider ICO as a fraud. The Securities and Exchange Commission [SEC] has charged Craig Sproule with fraud. The watchdog accuses the Crowd Machine founder of conning traders of their money. The CEO faced charges alongside his two businesses, Crowd […]
Australia looks to crypto as it plans for the future
TL; DR Breakdown Advisory committee in Australia highlights crypto possibilities The advisory committee highlight essential areas in the safe introduction of cryptocurrency Australia is planning for the future and has taken into account the rise in global cryptocurrency adoption. The government has released a study highlighting the possibilities of crypto-related technologies, including blockchain technology, as […]
Crypto.com signs a 5-year deal with Australian Football League (AFL)
TL;DR Breakdown Crypto.com has signed a 5-year partnership with AFL and AFLW. The deal is worth over $18m. The company has also announced a $200m funding for web3 projects. Crypto.com, the popular cryptocurrency exchange has formed a 5-year partnership with the Australian Football League. With this landmark partnership, Crypto.com will now become an official partner […]
Visiting the 2022 Australian Open metaverse on Decentraland
TL;DR Breakdown Australian Open has created a virtual world on Decentraland. Fans can interact with their favorite players in the metaverse. AO has also launched its own dedicated NFT collections. The Australian Open, one of the biggest annual tennis tournaments has also stepped into the metaverse and NFT space with this years edition. Earlier this […]
Australia to reform crypto rules in an overhaul of the payments industry
TL;DR Breakdown Australia intends to form a licensing framework for the digital market. The state is also considering the establishment of a retail central bank digital currency. Australia is considering establishing a central bank-issued digital currency to reform the crypto market. They want to revamp their payment system in a quarter of a century. Treasurer […]
Rest Super pension fund to enter the crypto space in Australia
TL;DR Breakdown Rest Super might be the first Australian Fund to join the crypto space. The disclosure makes Rest the first notable super Fund to show advances in the crypto space. The amount Rest Super intends to invest remains unclear to the public. Rest super is the first Australian pension scheme to show genuine interest in exposing […]
Perth Heat receives first bitcoin payments for merchandise
TL;DR Breakdown Perth Heat has received first pay in BTC following their recent decision to venture into cryptocurrency. The four-times Australia’s baseball champions are adopting bitcoin to widen their market. A set of fans have welcomed the move, while some see it as a wrong move. Perth Heat received its first payment in BTC through […]
The Commonwealth Bank of Australia is now allowing its customers to trade cryptocurrency
TL; DR Breakdown The Commonwealth Bank in Australia will be rolling out a pilot to enable cryptocurrency trading for ten digital assets later this year. Other large banks might follow suit as the CBA explores options to offer crypto payments for goods and services. The Australian banking giant, the Commonwealth Bank (CBA), will incorporate crypto […]
Australian regulator (ASIC) issues guidelines to ensure transparency of crypto-asset products
TL; DR Breakdown Australian regulatory authority (ASIC) produces new directives for crypto-asset products. Public consultations began in June, and now the regulatory authority has set the guidelines. On Friday, the Australia Securities and Investments Commission (ASIC) put forward a set of guidelines for funds that want to offer crypto exchange-traded products ETPs. The platforms must […]
Iris Energy, Australian crypto mining firm set for IPO
TL;DR Breakdown Iris Energy set to go public on Nasdaq stock. Iris not first crypto mining firm to go public. Iris holds no Bitcoin, says IPO funds will be used to increase its working capital. Australian bitcoin mining company Iris Energy is the latest crypto firm to file for an initial public offering (IPO) with […]
Australia needs new regulations for its crypto industry
TL;DR Breakdown • Senator seeks crypto regulation to improve Fintech trade.• Australia could regulate cryptocurrencies to make them safe to use. Australia’s legislative commission has to regularize to use of cryptocurrencies in the country. These announcements came to light after the Senate met to discuss the new rules against the crypto market. According to senators, […]
Pension fund manager hints at investing in crypto
TL;DR Breakdown Australian pension fund manager hint at making crypto investments. QIC not first pension firm to invest in crypto. Regulatory uncertainty, QIC’s fear about its potential crypto investment. Queensland Investment Corporation (QIC), a top-tier pension fund manager in Australia, has said that it may begin investing in cryptocurrencies. The pension fund manager said to […]
Regulatory concerns force Binance to end derivative trading in Australia
TL;DR Breakdown Binance exchange to end derivatives trading in Australia, December. Exchange end service to achieve improved relationship with regulators. Number one crypto exchange, Binance, has announced it would be halting its derivatives offerings (Futures and Options Trading) by December. This is as regulatory clampdown against the top exchange firm pressures it to stop providing […]
Crypto scams see Australians lose $25M in first half of 2021
TL;DR Breakdown Australians have lost $25m to crypto scams in 2021 already. ACCC warns residents to be wary of fraud disguised as investment. Nurse loses life saving to Bitcoin scam in Australia. In the first half of 2021, Australians have reportedly lost $25M to crypto scams, with Bitcoin fraud accounting for the majority of the […]
Bitcoin giveaway: Australians who receive COVID-19 vaccine to get free BTC
TL;DR Breakdown Australians who get inoculated to get $3 Bitcoin giveaway Millionaire sponsoring giveaway says it is his way to help the world get back to normal Fred Schebesta, a 40-year-old blogger, a local millionaire in Australia, has said he would sponsor a Bitcoin giveaway for locals who go and receive the Covid-19 vaccine. He […]
Dark Web operation: Australian police conduct largest Bitcoin seizure
TL;DR Breakdown Police in Australia conducts largest crypto seizure ever worth over $6M. Properties across several areas were also seized in connection with Dark Web crimes. Burst operation part of investigation to uncover dark web market place, Silk road. Australian police have made the largest cryptocurrency seizure ever recorded in the country after it seized […]
Bitcoin exchange operator seeks compensation over banned bank accounts
TL;DR Breakdown: A Bitcoin exchange operator in Australia has filed proceedings against Westpac and ANZ. The banks were alleged to have closed his accounts lawfully, which affected the exchange operation. An Australian Bitcoin exchange operator and the trader has filed proceedings against two banking institutions in the country, namely Westpac and ANZ, according to a […]
DarkMarket: Global authorities collectively shut down largest illegal marketplace
TL;DR Breakdown: DarkMarket was shut down in a joint effort with several authorities around the world. Over $150 million cryptocurrencies were transacted on the platform. A collaborative effort between several law enforcement authorities around the world has resulted in the shutdown of DarkMarket, which is supposedly the largest illegal marketplace globally. The platform allowed the […]
Australian senator recommends blockchain to streamline financial regulatory compliance
Australia senator hinted at the use of blockchain to streamline regulatory processes. Among other things, the senator believes that technology can help to reduce regulatory costs. Australia is likely to see another application of blockchain in financial regulation. As hinted by a senator, the government may be deploying blockchain technology to streamline the complicated processes […]
Blockchain trading system 1 step away from Australian Securities Exchange (ASX) approval
Australian stock exchange company says its blockchain offering will soon be connected to the ASX NSX has gained approval for the use of its blockchain trading services from Australian regulators The stock exchange company trading system had been due to launch in early 2021 ASX is likely to change Australian stock trading with this venture […]
Australia sees no strong case to introduce national digital currency
An official from Australia’s central bank revealed they see no strong case for launching a CBDC. In addition to evaluating the retail aspect, the bank will consider the wholesale CBDC. Many countries of the world have begun studying and considering issuing a central bank-issued digital currency (CBDC), with China already nearing the launching of its […]
Australian CBDC seems unnecessary right now, says Reserve Bank of Australia
As nations jostle around to launch CBDCs, the possibility of an Australian CBDC has been rejected by the country’s central bank. The Reserve Bank of Australia has stated in its payment paper that it is in no rush to create a central bank digital currency since the Australian Dollar is performing well. The payment paper […]
