Tag Archives: Australia

Following the Securities and Exchange Commission’s (SEC) approval of the first eleven spot Bitcoin Exchange Traded Funds (ETFs) in the United States last month, Australian retail interest in Bitcoin has experienced a surge. The development has grabbed Australian investors’ attention, with 34% acknowledging awareness of the news. This has increased confidence in Bitcoin, with 25% of locals holding a more positive view following the ETF approval. Increased Ownership and...

C1 Fund – established by a team of former Coinbase legal professionals and investors – has engaged in discussions with numerous local venture firms, explicitly proposing the purchase of private holdings from investors at a discounted rate ranging between 50% and 80% of their most recent valuation. The development comes as the crypto sector has once again captured the interest of investors, driven by a prevailing bullish stance on Bitcoin. This has resulted in the world’s...

The Australian Securities and Investment Commission (ASIC) has sentenced Melbourne-based cryptocurrency lending firm Helio for falsely claiming it held an Australian credit license (ACL) in August 2019. According to an official release from the ASIC, Helio was sentenced to a non-conviction bond and entered into a recognizance of A$15,000 ($9,600) for 12 months on the condition of good behavior. ASIC Sentences Helio The Australian securities regulator charged Helio in April...

The Australian Securities and Investments Commission (ASIC) filed a lawsuit against the trading platform eToro, alleging that its contract for difference (CFD) product could harm investors. That type of monetary tool is a leveraged derivative contract that enables customers to speculate on the prices of equities, commodities, stock market indices, and digital assets.  The platform was among the first in its field to hop on the cryptocurrency bandwagon, allowing trading...

The Australian division of Binance, the world’s largest and most popular digital currency exchange, caused analysts and observers to raise eyebrows in the latter half of May when the firm began selling bitcoin at a huge discount. Binance Australia was Practically Giving Away BTC During that time, bitcoin was trading between $27,000 and $28,000 on most platforms, though the Australia division of Binance caught everyone off guard when it began selling units for...

Jarryd Hayne – a former NRL superstar – has supposedly parted with $780,000 after falling prey in a Bitcoin scam. The athlete, who was slammed with a prison sentence for allegedly raping a woman, was tricked by a fellow inmate. The scammer is currently in jail after being accused of swindling $4.6 million from family and friends in a Ponzi scheme. Conned Even Behind Bars As reported by Daily Mail, the person in charge of the Bitcoin fraud was Ishan Seenar Sappideen, who met...

The latest ASX Australian Investor Study estimated that approximately 15% of Australians have invested some of their wealth in cryptocurrencies. The figure is somewhat similar to the 17% registered during the bull market in 2021. The research further showed that young Aussies are more inclined towards the industry, with 31% being HODLers. The Latest Trends in ‘The Land Down Under’ According to the analysis, roughly every seventh Australian has entered the cryptocurrency...

Commonwealth Bank of Australia (CBA), the largest bank in Australia, announced a temporary decline in “certain” payments to cryptocurrency exchanges as part of newly introduced measures to battle scams in the country. According to an official release, the CBA will decline or hold crypto payments for 24 hours or more. As part of the scam risk measures, the bank will also place a A$10,000 ($6,650) limit on the payments made to exchanges in the coming months. CBA to Pause...

On Tuesday, the prices of bitcoin and other crypto assets were seen trading at a discount on the Australian arm of Binance, the world’s largest crypto exchange by trading volume, compared to rival local platforms. As of 1:10 pm, bitcoin (BTC) was trading at A$34,863 ($22,670) on Binance Australia, about A$7,516 ($4,913) lower than the average price on most exchanges, including BTC Markets, where it was trading at A$43,000 ($28,130), Coinjar and Independent Reserve. Other...

A research conducted by Melbourne’s RMIT University estimated that Australian criminals who have employed cryptocurrencies, such as bitcoin, in their schemes had received harsher sentences than those who used fiat.  The study outlined the role of digital assets on the Dark Web, claiming they are among the main payment methods supported there. Less Mercy to Criminals Using Crypto The analysis reviewed 59 cases involving people who have used cryptocurrencies in their offenses...