Scammer Taunts Couple Who Lost Thousands in Bitcoin Fraud

Scammer Taunts Couple Who Lost Thousands in Bitcoin Fraud

An Australian couple lost over AU$20,000 (US$14,000) in a bitcoin scam, and were even taunted by the perpetrator over their losses. According to a report by the ABC, Nick and Josie Yeomans put money into a trading scheme discovered on Facebook that used the web domain Coinexx.org (not to be confused with Coinexx.
IBM, Top Australian Banks to Pilot Blockchain for Retail Lease Bank Guarantees

IBM, Top Australian Banks to Pilot Blockchain for Retail Lease Bank Guarantees

A consortium of Australia-based financial services companies have teamed up with IBM and shopping center operator Scentre Group to launch a pilot that puts retail lease bank guarantees on a private blockchain. Lygon – launched with participation from ANZ, Commonwealth, and Westpac banks on July 3 – will collect and digitize data from a test group of Scentre Group lease holders across Australia.
‘Don’t Hold Your Breath:’ Australia’s Central Bank Chief Bearish On Libra

‘Don’t Hold Your Breath:’ Australia’s Central Bank Chief Bearish On Libra

The Reserve Bank of Australia (RBA) Chief, Philip Lowe, declared himself to be profoundly skeptical on the impact of Facebook’s new cryptocurrency. The goal of Libra as a massively adopted digital currency might look good on paper for some, but the regulator doesn’t see it as much of a possibility in the short run.
Australia to Crack Down on Crypto Tax Avoidance Schemes

Australia to Crack Down on Crypto Tax Avoidance Schemes

The Australian Taxation Office (ATO) may soon crack down on major tax avoidance schemes using cryptocurrencies. According to a report from The Sydney Morning Herald on Thursday, the ATO is working on 12 tax avoidance cases involving abuse of crypto assets. Notably, the agency’s deputy commissioner, Will Day, said at least one of the cases involve a “global financial institution,” which is suspected of hiding assets and income details of taxpayers.
Australian Government Publishes Update on Cryptocurrency and ICO Rules

Australian Government Publishes Update on Cryptocurrency and ICO Rules

The Australian Securities and Investments Commission (ASIC) has published an update on how it intends to regulate crypto-related businesses and initial coin offerings (ICOs). In this guideline, the financial regulator outlines requirements that need to be followed for cryptocurrency businesses to be compliant with the ASIC Act.
Australian Securities Watchdog Updates Guidance on ICOs and Crypto Assets

Australian Securities Watchdog Updates Guidance on ICOs and Crypto Assets

The Australian Securities and Investments Commission (ASIC) has issued updated regulatory guidance for businesses involved with ICOs and crypto assets. Announced Thursday, the guidance details the legal obligations for cryptocurrency firms under the country’s Corporations Act, the ASIC Act and other laws.
This Gallery Is Selling Indigenous Australian Art for Bitcoin

This Gallery Is Selling Indigenous Australian Art for Bitcoin

Things you can buy with bitcoin: AT&T’s services, airfare, pretty much anything using gift cards through Bitrefill, pizza, drugs (duh) and now, Indigenous Australian art.
Australian Civil Servant Caught Mining Crypto With Government Hardware

Australian Civil Servant Caught Mining Crypto With Government Hardware

The Australian Federal Police (AFP) has charged a government employee alleged to have misused government IT infrastructure for personal cryptomining operations, per a press release. In the release, the AFP states that the unnamed 33-year-old man is an IT contractor with the Australian government, who took advantage of his access to “manipulate programs to use the processing power of the agency’s computer network for cryptocurrency mining.
Australian Government Employee Charged With Mining Crypto at Work

Australian Government Employee Charged With Mining Crypto at Work

A 33-year-old Australian government employee has been charged after he was caught mining cryptocurrency at work. In a media release Tuesday, the Australian Federal Police (AFP) alleged that the IT contractor from the Sydney suburb of Killara had modified government computer systems to mine cryptocurrency worth over AU$9,000 (US$6,184) for his own gain.
Zebpay Opens Crypto Exchange In Australia

Zebpay Opens Crypto Exchange In Australia

Popular crypto exchange Zebpay has announced that it is going down under. The exchange announced in-country AUD support on Twitter today. It joins exchanges like Coinbase and CoinCorner in supporting the continent.
ASX Is Letting Clients Test Its In-the-Works Blockchain Settlement System

ASX Is Letting Clients Test Its In-the-Works Blockchain Settlement System

The Australian Securities Exchange (ASX) is now allowing clients to test its in-development blockchain-based equities clearing and settlement system. Through its newly opened Customer Development Environment (CDE), ASX customers can connect to the system via a blockchain node and experiment with the tech, the exchange announced Tuesday.
Report: Australians Lost Over $4 Million to Crypto Scams in 2018

Report: Australians Lost Over $4 Million to Crypto Scams in 2018

The latest edition of “Targeting scams,” an annual report released by the Australian Competition and Consumer Commission (ACCC) revealed that the country saw a 190 percent increase in cryptocurrency scams, with a total of $6.1 million AUD ($4.3 million USD) lost to crypto criminals. This marks a substantial rise from the $2.
Australian Crypto Scam Reports Rose Almost 200% in 2018

Australian Crypto Scam Reports Rose Almost 200% in 2018

Australia saw a surge in reports of scams involving cryptocurrencies last year, according to the country’s consumer watchdog. In 674 cases, victims reported to the the Australian Competition and Consumer Commission (ACCC) and other government agencies that cryptocurrency had been used to pay scammers in 2018, with reported losses of AU$6.1 million (US$4.3 million), the ACCC said in its tenth annual “Targeting Scams” report on Monday.
PwC Australia, Port of Brisbane Unveil Blockchain Supply Chain Pilot

PwC Australia, Port of Brisbane Unveil Blockchain Supply Chain Pilot

The Australian arm of “Big Four” auditing firm PwC is working a new solution aimed to boost efficiencies in the country’s international trade systems. Announced Tuesday, PwC Australia is collaborating with the Australian Chamber of Commerce and Industry (ACCI) and the Port of Brisbane for the development of a new platform that utilizes blockchain technology to link supply chain information – in theory eliminating difficulties with traditional methods by, a release states, removing complexity.
UNICEF Is Mining Crypto to Raise Funds for Children

UNICEF Is Mining Crypto to Raise Funds for Children

The United Nations Children’s Fund (UNICEF) is seeking to harness supporters’ computers to raise donations via cryptocurrency mining. To that end, the organization has launched “The Hope Page” – a website that mines cryptocurrency with the help of visitors’ computer processing power. The non-profit described in a statement that site will “allow Australians to provide help and hope to vulnerable children by simply opening the page while they are online”, ITnews Australia stated.
ASX Exchange Targets 2020 for DLT Settlement System

ASX Exchange Targets 2020 for DLT Settlement System

The Australian Securities Exchange (ASX) is moving closer to replacing its CHESS clearing and settlement system with a distributed ledger-based alternative. Details about the system’s progression toward production launch were included in an 87-page consultation paper published Friday, which included a timeline for when the switch will be made as well as descriptions of the types of functions it will and won’t support.

Police Raid Goes Wrong: They Mistook Crypto Mining Operation for Grow House

The crypto industry has drawn comparisons with the cannabis industry quite often, especially in the last year.
A New Australian Dollar-Backed Stablecoin Slated to Launch on Stellar

A New Australian Dollar-Backed Stablecoin Slated to Launch on Stellar

Utility billing and payment services provider Novatti is launching a new Australian dollar (AUD)-backed stablecoin known as the Novatti AUD Utility Token on the Stellar Network.   As the platform’s tokens are tied to Australian dollars, all units in circulation will have an equal, matching reserve of AUD, allowing investors to use the currency freely without having to worry about price fluctuations.

Bitcoin is Riding a “Speculative Mania”, Says Australia’s Central Bank Chief

The global fascination with bitcoin “feels like a speculative mania”, the governor of Australia’s central bank said on Wednesday.

Australia’s Financial Watchdog Will Monitor Bitcoin Exchanges

AUSTRAC, Australia’s financial intelligence and watchdog, will now monitor bitcoin exchanges following newly passed legislation.

World First: Blockchain Will Power Australia’s Biggest Stock Exchange

The Australian Securities Exchange (ASX) has confirmed that blockchain technology will replace its existing clearing and settlement system, becoming the world’s first major stock exchange to do so.

Dubai and Australia Team Up to Seal FinTech Deal

The securities and financial regulators of Australia and Dubai respectively have entered a mutually beneficial agreement to cooperate on and promote financial technologies (FinTech) in each other’s markets. Inking the terms yesterday, the Dubai Financial Services Authority (DFSA) and the Australian Securities and Investment Commission (ASIC) will jointly work on a collaborative framework toward FinTech innovation.  Notably, the regulatory framework will lower the burden for industry startups and businesses to enter each other’s markets, aided by the authorities for regulatory compliance.

This Aussie Pole Dancing Instructor Finds Success with Bitcoin, Helps Newcomers

According to Australian publication SBS News, a pole dancing instructor found success after investing in bitcoin, as she bought the cryptocurrency back in July and has tripled her initial investment since them. Dee Heath owns a pole-dancing fitness business in western Sydney, and earlier this year decided to invest in bitcoin. Speaking to SBS News, she admitted that despite loving pole dancing, the cryptocurrency has been her passion.

Australian Government Awards Grant to $8 Million Blockchain Energy Project

Australian-based solar startup Power Ledger, among others, is to receive AU$8.25 million in funding from the Australian government for a cutting edge project using the blockchain. According to an announcement from Power Ledger, the Australia government revealed today that it is to provide $2.57 million in funding for a cutting-edge project in the City of Fremantle, in Western Australia.

Australia and UK “Concluding Negotiations” for New FinTech Deal

The Australian High Commissioner to the UK has revealed that the two countries are on the verge of inking a new FinTech agreement. Speaking at a global trade conference last week, Australia’s high commissioner to the UK Alexander Downer reportedly stated that the two countries “are in the process of concluding negotiations on fintech”, a move that will boost Australia with direct ties to one of Britain’s fastest-growing industries. As reported by International Investment, Downer further revealed that the agreement will bring enhanced cooperation between the two countries’ regulatory authorities.