Tag Archives: Australia

The region of Queensland in Australia has, as of late, been a hub for crypto fraud and related scams, and it looks like residents have lost close to $40 million at the time of writing. This is a huge uptick from the number reported just last year during this time, which was around $20 million. Australia and Crypto… Not the Greatest Match? Throughout Australia, as much as $263 million has been lost to crypto scams. Federal police in Australia now refer to the growing...

The Reserve Bank (the central banking institution of Australia) collaborated with the Digital Finance Cooperative Research Centre (DFCRC) to unveil a technical White Paper on its future CBDC. The organization is expected to complete the pilot version of the financial product by the middle of 2023. Australia joined the list of countries, racing to issue a digital form of their national currency. According to a recent announcement, the Reserve Bank issued a White Paper called...

Andrew Bragg – an Australian Liberal Senator for New South Wales – drafted a bill that could put the local cryptocurrency sector under strict supervision. If accepted, the legislation will require digital asset exchanges and stablecoin issuers to disclose their operations to authorities, while Chinese banks dealing with digital yuan in Australia will also face enhanced scrutiny. Australia Should Move Fast In a recent speech at the Blockchain Associations Forum, Senator Bragg...

Blockchain Australia – an industry body representing Aussie businesses and individuals participating in the crypto industry – announced the appointment of Laura Mercurio as its next Chief Executive Officer. She has a rich experience in the financial field, working previously for BlackRock, Deutsche Bank, and Citigroup. Recently, numerous other individuals who were part of monetary institutions and even government officials moved to the digital asset space. Such an example is...

The Australian Federal Police – an independent agency responsible for investigating crime and protecting the country’s national security – reportedly formed a new cryptocurrency unit. The goal is to detect criminals who use digital assets in their activities, such as money launderers, and bring them to justice. Applying strict regulations on the digital asset sector has been a mission for the Aussie government for a while now. Last year, former Federal Treasurer – Josh...

Australia and crypto are becoming a huge pair, which is why so many people in the nation flocked to the Celsius Network earlier in the year to obtain potential interest on their coins. Thus, we can understand that many of them are not too happy about what’s occurred with Celsius over the past few weeks. Celsius Customer in Australia Are Going Through a Tough Time Things got off to a very rocky start when the crypto lending platform decided to halt all withdrawals a few...

Digital asset manager Monochrome has received regulatory approval from the Australian securities watchdog to offer spot crypto exchange-traded funds (ETFs). According to an official announcement, Monochrome is one of the first asset management firms to secure an Australian financial services license (AFSL) from the Australian Securities & Investments Commission (ASIC) for crypto-related ETFs. Monochrome Bitcoin ETF The firm noted that the products, dubbed the Monochrome...

Australia’s newly-elected Prime Minister – Anthony Albanese – reportedly has three top issues to deal with it as the new leader of the country. These include battling climate change, reducing the cost of living, and imposing comprehensive rules on the cryptocurrency industry. Crypto Included as a top Priority The Australian Labor Party won the government elections and will try to guide the nation through the economically turbulent times ahead. For his part, the leader of the...

The Australian Taxation Office (ATO) announced Monday that it will focus on digital assets this year as it expects to see more Aussies report capital gains or losses in their tax returns. Aussies Are Engaging With Crypto The tax regulator treats crypto assets as digital property, hence Aussies who sell their digital assets, including non-fungible tokens (NFTs), are expected to calculate and record their capital gains or losses in their tax returns. For clarity, capital gain...

This week saw the cryptocurrency market go through some serious turbulence, as the prices for the largest coins by means of total capitalization went on a rollercoaster. The tumultuous market dynamics ultimately resulted in a slight gain of about $15 billion added to the cap. Leading the market was, of course, Bitcoin. The price was sitting at around $40K this time last week, and it remained there for a few days. On April 18th, we saw BTC crashing below $39K to a monthly low,...