Tag: australia

Australian financial market regulator continues its crackdown against illegal cryptocurrency offerings, with its latest civil penalty proceedings against Web3 Ventures Pty Ltd, operating under its tradename Block Earner.

The Australian Securities and Investments Commission (ASIC) alleged that the fintech company provided unlicensed financial...

The blockchain-backed upgrade, in the works for nearly five years has potentially cost Australia’s primary exchange, ASX over $170 million. The Australian Securities Exchange (ASX) has just canceled its long-promised plans to use blockchain to update its clearing and settlements system. In a Nov. 17 statement, ASX announced it had paused all current activities of […] The post...

Arkon Energy, uses renewable electricity to mine bitcoin, raised $28 million, led by quantitative investment manager, Blue Sky. The volatile environment of the cryptocurrency sector is not completely deterring builders from entering the market. An Australian company called Arkon Energy that builds renewable data centers recently raised money to expand its bitcoin mining operations and […] The post...

The Australian Securities and Investments Commission (ASIC) has suspended the license of FTX Australia Pty Ltd, the local subsidiary of troubled cryptocurrency exchange FTX.com, until 15 May 2023. The move came as the entity was placed under voluntary...

The Australian Securities and Exchange Commission (ASIC) published a list of the top ten potential cryptocurrency scam signs on Tuesday. The action is a part of the current Scams Awareness Week 2022 organized by the Australian Competition & Consumer Commission...

The Australian Securities and Exchange Commission (ASIC) has sued BPS Financial, seeking civil penalties for allegedly making false representations involving Qoin, a crypto asset token, when marketing.

The company further alleged to have engaged in unlicensed conduct to a non-cash payment facility for the cryptocurrency.

BPS established the Qoin Facility in January 2020 as a non-cash payment facility. It included Qoin tokens, a...

Bitcoin and other related crypto products being offered by this Australian asset management company is now on hold. The Holon Investments Australia Limited has received cease-and-desist orders from the Australian Securities and Investments Commission. The three investment products that monitor Bitcoin (BTC), Ethereum (ETH), and Filecoin (FIL) are the focal point of the stop orders. Although the government is crypto investor-friendly to some...

Due to "non-compliant" target market decisions, three crypto funds have received temporary stop orders from Australia's market regulator. Due to non- compliant target market determinations, Australia's primary financial market regulator has issued temporary stop orders on three crypto funds that were going to be made available to retail investors (TMDs). The Australian Securities and Investments Commission […] The post...

Bitcoin adoption has always been the subject of rigorous debates in many countries today. With financial powerhouses such as the U.S. and China still taking a hard stance against cryptocurrencies, it remains to be seen if the adoption of crypto by different nations will reach its peak in the near future. After all, the respective governments of the above-mentioned countries continue to associate...

Ahead of ParallelChain mainnet launch, GEM Digital Limited, a digital asset investment, has reportedly invested $50 million into the firm. The investment is targeted at the ParallelChain Lab Layer-1 protocol development project. The blockchain industry keeps growing in strength as more funds enter the industry. The DeFi community is one part of the blockchain industry pulling the most weight. ParallelChain is an all-in-one...

Summary: Senator Andrew Bragg proposed a crypto bill to facilitate tight disclosure requirements. The bill targets China's Digital Yuan as Beijing tests cross-border utility for the central bank's digital currency. Nine U.S. lawmakers also developed a bill to mitigate possible risks from the widespread use of China's CBDC. Bragg further proposed a crypto licensing regime for exchanges, stablecoin issuers, and other digital asset...

Since the cryptocurrency grew in the last few years, it also has become the favorite place for fraudsters and cybercriminals to loot money. Per the latest estimates, Australia records significant losses indicating crypto scams are on the rise in the state. According to the stats viewed by the Australian Competition and Consumer Commission (ACCC),...

Crypto enthusiasts hope to see the sector accepted in every country worldwide. Even though the present condition of the market is not encouraging, investors are optimistic that the future of crypto assets is promising. Many countries, such as El Salvador, have already embraced crypto in their financial systems. The acceptance boosted the industry, and with more such adoptions in the pipeline, cryptocurrencies will...

Stephen Jones, who is the Assistant Treasurer and Minister for Financial Services, started the digital asset program at the Australian Securities Exchange on Monday. Twenty-five of Australia's most important institutions has joined forces to start a research program that will take advantage of the opportunities that come with the digital asset. The Digital Finance Cooperative […] The post...

Australia plans on reviewing how cryptocurrency assets are managed this year by undertaking "token mapping" which has never been done before. The Labour government of Australia will be carrying out the process this year itself. This will be in order to keep the practices up to date and also safeguard customers. "Token Mapping" is a way of defining different types of digital assets...

A partnership between Crypto.com, tech firm DataMesh and gas chain OTR is enabling customers to use bitcoin as payment in hundreds of stores in Australia.Australian consumers can now use bitcoin for everyday purchases at over 175 OTR locations and 250 Peregrine Corp. locations. OTR partnered with Crypto.com to provide instant fiat conversions from bitcoin to Australian dollars for the...

The number of cryptocurrency investors is drastically increasing. It could have been positive action, but considering the look of the digital market, it is rather alarming. The report from Australia's financial services regulator cited that the increase became notable in the heat of the global pandemic. To this effect, Joe Longo has expressed his worries about the action of the investors. Longo is...

Zero Hash Holdings, a digital asset services firm that enables neo-banks, broker-dealers and payment groups to offer digital asset offerings, has successfully registered to be a Digital Currency Exchange provider (DCE) in Australia.

The registration was granted by the Australian Transaction Reports and Analysis Center (AUSTRAC), the Australian government financial...

The Australian subsidiary of Binance announced the launch of cryptocurrency contracts for differences (CFDs), targeted at wholesale traders in the country. These over-the-counter (OTC) derivatives are offered under an Australian Financial Services (AFS) license. The launch came after Binance terminated offering all derivatives products in Australia last August following a general warning issued by the local financial market regulator against unlicensed...

Many countries and markets gradually embrace the opportunities in crypto and blockchain. Unfortunately, the recent crypto winter seems to have affected the speed at which these technologies were moving. But there's still hope that things will turn better after the storm. Thankfully, there have been many indications that the crypto industry is not dead yet. Many crypto firms have continued unveiling innovations and...