Tag Archives: Australia

Andrew James Bragg, Australia’s senator for New South Wales, recently acknowledged that cryptocurrency enthusiasts in the country are very eager to receive regulations on their activities in the country. Demand for Regulation Continues to Increase In an official statement on Tuesday, Bragg noted that a clear and comprehensive regulatory framework for digital assets will increase market stability, among other things. Bragg, who is currently serving as the chairman of the...

The Australian Securities and Investments Commission (ASIC) has taken slow but cautious steps regarding an exchange-traded product tracking the performance of bitcoin or another cryptocurrency. In the latest development, the organization published guidance detailing regulatory requirements for funds waiting to offer crypto ETPs, including exchange-traded funds (ETFs) and structured products. The guidance is designed to ensure not only investor protection but also increase...

The Nasdaq-listed company Mawson Infrastructure Group reportedly inked a partnership with Quinbrook Infrastructure Partners to set up one of Australia’s largest bitcoin mining operations. It will be located in the beachside town – Byron Bay – and will use 100% renewable energy. Australia Aims at Green BTC Mining Apart from being one of the leading touristic hotspots in Australia, Byron Bay could also become the center of the country’s bitcoin mining. A recent report reads...

Following the growing interest in cryptocurrencies globally, the Senate’s Committee on Australia as a Technology and Financial Center has recommended that the country should establish favorable digital asset regulations to promote the development of the industry. Fostering Crypto Growth The committee said in a report published by Reuters today that the proposed laws should focus on issuing tax discounts for crypto trading and establishing a licensing regime for exchanges,...

As the global interest in cryptocurrencies continues to gain momentum, Queensland Investment Corporation (QIC), Australia’s fifth-largest pension funds manager with A$92.4 billion ($69bn) of assets under management (AUM), has disclosed that it may delve into such investments in the future. Stuart Simmons, QIC’s head of currencies, told the Financial Times in an interview today. Regulatory Uncertainty Scares Australian “Super” Based on the massive growth of the crypto market...

According to a recent poll, most cryptocurrency investors from Kenya, Nigeria, and South Africa have entered the digital asset market with long-term goals such as securing their families’ wellbeing. Crypto to Fund Children’s Education The London-based company – Luno – conducted a survey with nearly 7,000 participants from Nigeria, Kenya, South Africa, the UK, Australia, Indonesia, and Malaysia to determine the reasons that drove them into getting involved with digital...

An anonymous buyer at an Australian auction paid $361,000 in bitcoin to acquire a classic Subaru WRX driven by the rally champion Colin McRae. Racing Car in Exchange for BTC According to a recent report, the automobile was located in the back of a Victorian shed for some time, and few people knew how valuable it was. When Lloyds Auctions introduced it, the machine’s estimated price was not more than $15,000. An investigation, though, found out that the car was particularly...

The digital asset trading venue Independent Reserve received approval from the Monetary Authority of Singapore (MAS) to provide crypto services in the Asian city-state. Additionally, the regulator also greenlighted the brokerage arm of DBS Bank. Independent Reserve Invades Singapore According to a recent report, the MAS enabled the Australian-based cryptocurrency platform – Independent Reserve – to offer digital payment token services to retail and institutional investors in...

What occurred in India’s cryptocurrency space a few years ago is now at risk of also occurring in Australia. The country’s financial laws have failed to keep up and include cryptocurrency, and thus many startup ventures delving in blockchain and in digital currencies are now at risk of losing the money and support they receive from standard banks. Australia Is Having Trouble in Its Crypto Space India saw a situation like this occurring just a few years ago. Many news...

According to a recent research, 17% of Aussies have some cryptocurrency holdings. Bitcoin is still the most popular digital asset while Ethereum and Dogecoin ranked respectively second and third. What is The Crypto Trend in Australia? Finder’s Consumer Sentiment Tracker – a nationally representative survey of 1,000 Australians conducted by Qualtrics – revealed that one in six locals had entered the digital asset market. Most hodlers answered they purchased cryptocurrency...