Tag Archives: Australia

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...

The Australian Securities and Investments Commission (ASIC) has announced that a 21-year-old mother has been arrested following an investigation into an online syndicate accused of stealing and laundering millions of dollars worth of funds from superannuation and share-trading accounts through the use of cryptocurrency. ASIC alleges that the suspect, Jasmine Vella-Arpaci, comprised a key member of a criminal syndicate self-identified as ‘Team Awesome’. The group is accused of purchasing...

Australia's financial watchdog has keeping ahead of the pack with crypto regulations. | Source: Shutterstock The Australian Securities and Investments Commission (ASIC), the country’s financial regulator and watchdog, is gearing up for the rapid growth of crypto-asset markets. Speaking to CCN, an ASIC spokesperson indicated that the regulator has identified...

A near million-dollar bitcoin ransom has secured the freedom of a kidnapped Chinese national in Sydney. | Source: ShutterstockThe Chinese pre-university student who was reported kidnapped late last month in Australia for 80 Bitcoin has been rescued and reunited with his family. The Chinese Consulate-General in Sydney confirmed that the 20-year old Ye Jingwang who was studying at the University of Technology Sydney had been found ‘safe’ and in ‘good health’.The Chinese Consulate-General in...

A Chinese student studying in Australia is allegedly being held at ransom with the kidnappers demanding Bitcoin worth over a million Australian dollars before they can release him.According to the Southern Metropolis Daily, the father of the 20-year old student was contacted by the kidnappers on August 24th. The kidnappers demanded 80 Bitcoin within 24 hours. At the current BTC price, this is approximately $AU1.2 million ($US 810,000).Pay up the Bitcoin or else… Besides the Bitcoin demand the...