Australian Financial News

30.03 / 06:53

business Blockchain Adoption Trading Altcoin expansion Australian OKX plans Australian expansion, citing ‘huge appetite’ for crypto

Seychelles-based crypto exchange OKX has signaled its intention to expand its crypto services to Australia, a country it believes is primed to take on the next wave of crypto adoption.

29.03 / 10:47

Ethereum regulation cryptocurrency investment Bitcoin Regulation Bitcoin Australian Australian senator introduces private bill to expedite crypto regulation

A new bill has been introduced to the Australian Parliament proposing regulations for providing cryptocurrency services in the country.

21.03 / 13:29

Provident Digital MasterCard Australian Australian startup Stables to issue USDC to fiat Mastercard

Sydney-based Stables was founded in 2021 by Erez Rachamim, Bernardo Bilotta and Daniel Li who previously worked at Equitise, Zip and Readiitel. The company currently employs 15 staff.On the tie-up with Mastercard, Rachamim says: “Customers spend as they usually would using stablecoins, with transactions then settled by Stables’ payment gateway enabling real-time transactions using USDC.

20.03 / 11:01

business Payments regulation Banks Loans Australian Australian Banking Association’s cost of living inquiry reveals bank pressure

The trade association for the Australian banking industry — Australian Banking Association (ABA) — launched a cost of living inquiry to closely study the impact of the COVID-19 pandemic, global supply chain constraints and geopolitical tensions, among others, on Australians.

16.03 / 10:31

business regulation SEC coinbase Australian Coinbase met with Australian banking regulators over local crypto regulations

The Reserve Bank of Australia and Treasury have been holding private meetings with executives from Coinbase, with discussions revolving around the future of crypto regulation in Australia.

02.03 / 15:27

Provident Digital MasterCard ANZ Australian Australian banks and fintechs to test use cases for CBDC

The projects will operate in a ring-fenced environment and involve a digital currency that is a real claim on the Reserve Bank. First announced in August, the RBA says the project received a "large number" of use case submissions from a range of industry participants. Selected pilot projects involve offline payments with ANZ, nature-based asset trading in a combined proposal from ANZ and Commonwealth Bank, interoperable CBDC for Web3 Commerce with Mastercard and Cuscal, and a corporate bond settlement use case submitted by the Australian Bond Exchange, among others. Of Australia's Big Four banks, ANZ is involved in four projects, while Commonwealth Bank takes two of the spots. Westpac and NAB are notable by their absence.

02.03 / 01:57

business CBDC Digital Currency Central Bank Australian Australian central bank to launch 'live pilot' of CBDC in coming months

Australia's central bank is set to launch a "live pilot" of a Central Bank Digital Currency (CBDC) "in the coming months," according to a joint statement from the Reserve Bank of Australia (RBA) and Digital Finance CRC (DFCRC), an Australian financial research institute.

23.02 / 17:27

Provident Twitter Platform Action AUD Australian Binance closes derivative positions of some Australian traders

Binance – the largest crypto exchange in the world by trading volume – announced that it closed derivate positions of some users, earlier today. The users affected by this move are solely based in Australia, and the Australian regulation influenced the action. In a notice put on Twitter, the crypto exchange stated that some users were incorrectly classified as “wholesale investors”.

03.02 / 16:27

Provident consultation Australian Australian Government publishes token mapping consultation paper

In August 2022 the Government announced that it would take a more serious approach to the crypto ecosystem, and that “token mapping” would be a “foundational step in the Government’s multi-stage reform agenda that commits to developing appropriate regulatory settings for the crypto sector.” The paper explains that “token mapping is the process of identifying the key activities and functions of products in the crypto ecosystem and mapping them against existing regulatory frameworks.” It notes that token mapping is a key first step to planned and future crypto ecosystem initiatives and will: (a) ensure consistency in regulating activities (i.e. be technology neutral) (b) facilitate existing policy goals (i.e.

31.01 / 20:37

UPS Digital Fighting AUD ftx crypto exchange Australian New Revelation: Australian Regulators Probed FTX Crypto Exchange Before Its Collapse – Here's Why

It has emerged that the once-thriving FTX exchange had been subject to open inquiries from the Australian Securities and Investments Commission (ASIC) since March 2022.

16.12 / 05:29

Law Stablecoin Court Australian Finder.com sued by Australian regulator over its crypto yield product

Financial product comparison website Finder.com is being sued by Australia’s financial services regulator for allegedly offering a cryptocurrency yield-bearing product without the required license.

14.12 / 09:07

Government Stablecoin regulation consultation Australian Australian 'token mapping' consultation paper to release in early 2023: Treasurer

Australian Treasurer Jim Chalmers has revealed that the government will release a consultation paper in early 2023 as part of its token mapping initiative.

08.12 / 09:35

business Blockchain Adoption Australian Australian CBDC receives unexpected interest but could hurt banks: RBA

A Central Bank Digital Currency (CBDC) pilot program in Australia has received more than 140 use case proposals from the finance industry, but the Reserve Bank of Australia (RBA) warns that it could displace the Australian dollar and result in people avoiding commercial banks entirely.

17.11 / 18:09

business Bitcoin Australian Australian firm raises $28M to expand Bitcoin mining capabilities

The turbulent climate of the crypto industry is not putting a full stop to builders in the space. Arkon Energy, an Australian renewable data center infrastructure company, recently raised millions to expand its Bitcoin (BTC) mining operations and acquired another European-based data center.

25.10 / 02:17

regulation crimes Police Australian Criminal use of crypto an ‘emerging threat’ — Australian police

Australia’s federal law enforcement agency has highlighted the criminal use of cryptocurrency as an “emerging threat” in the country but says it’s a continuous challenge to keep up the pace with criminals.

26.09 / 10:55

CBDC Adoption regulation Australian Australian pilot CBDC test for eAUD to commence mid-2023: RBA White Paper

Making it to the list of countries that intend to launch an in-house central bank digital currency (CBDC), the Reserve Bank of Australia (RBA) released a white paper outlining an elaborate plan for conducting a pilot project for eAUD.

19.09 / 16:35

Provident Digital Racing Australian Australian senator drafts bill for crypto regulation- Details inside

Australian senator Andrew Bragg hasdrafted a bill aimed at better regulation of cryptocurrency and other virtual assets in the country.

19.09 / 09:53

Blockchain Stablecoin bills Australian Australian senator drafts bill aimed at stablecoin, digital yuan regulation

Australian Liberal Senator Andrew Bragg has released a new draft bill aimed at clamping down on digital asset exchanges, stablecoins, and China’s central bank digital currency, the e-Yuan.

06.09 / 22:23

Blockchain Target FIVE Australian How Australian police is combating criminals through cryptocurrency

The Australian Federal Police (AFP) formed a new cryptocurrency unit to focus on crypto-related transactions,reported The Australian Financial Review. The step is in line with the policy of Australian law enforcement to monitor crypto-related transactions closely.

06.09 / 11:59

Government Adoption Bitcoin foreign Australian Australian Treasury consults public on Bitcoin foreign currency tax exclusion

Australia’s ministerial department of Treasury reached out to the public to seek consultation regarding draft legislation that would exclude cryptocurrencies from being taxed as a foreign currency if passed.

05.09 / 16:13

Blockchain Police Bitcoin Australian Australian state police sets up crypto division to trace transactions

Law enforcement in Australia is working to boost cryptocurrency expertise and trace crypto transactions by setting up a dedicated police group.

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