Tag Archives: Australia

Bitcoin scams appear to be everywhere these days, but nowhere are they more prominent than in Australia, as of late.Australia Hosts Too Many of These SchemesThat’s right… The land from down under appears to be one of the biggest crypto scam havens on planet Earth. Among the latest scam cases involves a young woman named Kate – an alias, as the person being interviewed wanted to remain anonymous – who invested as much as $4,000 into a bitcoin investment scheme based out of Kiev in the...

The Australian government is taking significant steps in adopting blockchain in its daily operations. Earlier today, the country released its “National Blockchain Roadmap” to improve the nation’s productivity in different sectors.Australia Published Blockchain RoadmapLess than a year ago, the federal executive Government of Australia (the Morrison Government), announced that it will develop a National Blockchain Roadmap. With a cost of 100,000 AUD, its idea was to utilize blockchain usage in...

Australia has a plan for tackling stable coins like Libra.Are Libra and Australia At It Again?Stable coin regulation will now be in the hands of Australia’s Prudential Regulatory Authority (APRA). As part of the Australian Council of Financial Regulators, the APRA has created what’s known as the Distributed Ledger Technology Working Group as a way of governing new operations and maneuvers in the industry of decentralized finance.One of the most controversial steps taken in recent years in the...

The Australian Prudential Regulation Authority (APRA) has reportedly submitted a framework to oversee digital wallets holding large amounts of value. If approved, it would also include Facebook’s controversial stablecoin, Libra, and its digital wallet – Calibra.APRA To Oversee Calibra?Upon its announcement, Facebook’s Libra quickly attracted the attention of watchdogs. The social media mogul also created a blockchain-based digital wallet called Calibra, that would store and move the future...

While several countries and entities are starting to consider launching their own central bank digital currencies (CBDC), Australia might be on the opposite side. The nation’s Reserve bank seems to think that there’s no current need for such a product among customers, as the payment system now is stable enough.No CBDC in AustraliaThe Reserve Bank of Australia (RBA) has been exploring the potential need of a “digital Australian dollar,” but it has concluded that there’s currently no need for...

In Australia, law enforcement officials have uncovered $1 million in cryptocurrency thanks to an alleged drug bust.Australia; The Home of Crypto Crime?The drugs were hidden inside a child’s toy being sent to a region called Perth. The paraphernalia confiscated by the police included nearly 28 grams in illegal MDMA tablets along with MDMA powder. The package was allegedly sent from somewhere in the United Kingdom.Police officials examined the address the package was destined for. They then...

The Australian Border Force (ABF) has recently assisted in the apprehension of a couple for allegedly transporting MDMA. After seizing all drugs, the authorities found over $1.5 million worth of cryptocurrencies, which officials believe is the most substantial amount ever caught of its kind.Drug Transportation and Cryptocurrency InvolvementThe Australian Federal Police and WA Police Force recently worked together on a case in Perth for drug transportation, according to a report. It says that...

Australian Detectives known as the ‘E-Crime Squad’ have arrested a man for providing unregistered cryptocurrency services. Authorities charged the man for breaking anti-money laundering and counter-terrorism financing laws. The E-Crime Squad seized sizable amounts of cash, forged documents, and even a crypto ATM machine. Police in southeastern Australia arrested a 38-year old man on Tuesday for providing “unregistered cryptocurrency transactions.” Detectives known as the ‘E-Crime Squad’...

Financial regulators in Australia are looking to put more pressure on Libra.Libra Is Getting Reamed… AgainA new report suggests that Facebook and Libra executives failed to follow proper Australian protocols. This is raising concerns with members of the Australian government, who are now looking to learn all they can before the currency is set to debut in 2020.Facebook’s Libra has had a rocky history. The coin was first introduced back in June of 2019 to rather lackluster reception. The...

Australia is offering more viable proof that institutions are consistently looking to build their tokens atop the Ethereum network. The country’s Perth Mint refinery is now releasing a new gold backed Ethereum token in western Australia.Ethereum: Still the Blockchain of ChoiceKnown as the Perth Mint Gold Token (PMGT), it will be the first of its kind issued on a blockchain that’s backed by government’s reserves. A press release explains:It offers institutional investors a competitive...