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.

China and Australia Unite in Fintech Pact, Despite ICO Differences

The national securities regulators of China and Australia have entered an agreement to share information to promote FinTech innovation in each other’s markets. The Australian Securities and Investment Commission (ASIC) and China Securities Regulatory Commission (CSRC) have inked a FinTech cooperation agreement that will see the two authorities share and use information on emerging market trends and developments to promote innovation in financial technologies with each other’s markets.

Australian Bitcoin Scams are up 126% in a Week: Consumer Watchdog

As bitcoin price hits unprecedented heights this week, Bitcoin-related scams are also on the rise according to an Australian government study. The Australian Competition and Consumer Commission (ACCC), an independent Australian government authority tasked to enforce consumer protection laws, has pointed to a marked uptick in bitcoin-related scams in the country. Through ‘Scamwatch’, the authority provides an overview of fraud and scam-related trends taking shape in the country by collaborating with various state and territory consumer protection agencies and other government agencies.

Cryptocurrencies Raise “Significant Issues” for Authorities: Australia’s Central Bank

Australia’s central bank addressed the growing popularity of cryptocurrencies like bitcoin in a parliamentary committee testimony. The Reserve Bank of Australia (RBA) has joined a growing list of regulatory counterparts around the world in discussing its regulatory stance and views on cryptocurrencies. Earlier this month, the deputy director of the Philippines’ central bank spoke about the “benefit of using virtual currencies like bitcoin” by calling them “fast, near real-time and convenient.

“Game Changer”: Australia Goes Easy on FinTech, ICO Regulations with Draft Laws

The Australian government has published draft laws for “an enhanced regulatory sandbox” that will go easy on FinTech startups by letting them operate without a full license. The Australian government has revealed drafts of the new regulatory framework that will relax licensing requirements for innovative new FinTech startups in the country. The new framework will enhance Australia’s sandbox for the testing of a wide range of FinTech products and services without the mandatory requirements to meet all licensing requirements of the Australian Securities and Trade Commission.

Australia Passes Law to Officially Kill Double Bitcoin Tax

Come July 2018, Australia will (finally) remove the double taxation of transactions involving cryptocurrencies like bitcoin. Under current law mandated in December 2014, Australians are taxed twice for digital currency transactions – once for the goods and services (GST) tax on the purchase and again for the digital currency used in the transaction. Bitcoin and other digital currencies are seen as an ‘intangible’ property under rules mandated by the Australian Tax Office.

As Bitcoin Price Hits Record Highs, Australia’s Government Considers Digital Currencies and Tax Implications

As bitcoin’s valued soared to record heights over the weekend, the Australian government heard evidence on digital currencies and its tax implications. On Saturday, bitcoin’s value saw its value rise to $6,200 for the first time, pushing its market cap to $102.8 billion. With investor interest increasing in the cryptocurrency market, governments are turning their attention to the impact it presents.
Australia Officially Ends Double Bitcoin Tax

Australia Officially Ends Double Bitcoin Tax

From next year, Australians will no longer have to pay goods and services tax (GST) on cryptocurrency purchases. Following the passing of new legislation in the country's parliament today, the long controversial "double taxation" of cryptocurrencies – first when buying it, then later when buying items subject to the tax – is finally coming to an end. The situation arose from the previous law, enacted in 2014, which treated cryptocurrencies as bartered goods for GST purposes – legislation that quickly received criticism from technology advocates, and last year saw pledges from government officials to rectify the issue.
Australian Senate Panel Throws Support Behind Crypto Exchange Bill

Australian Senate Panel Throws Support Behind Crypto Exchange Bill

The Australian Senate has begun deliberating a bill that would apply the country's anti-money laundering (AML) statutes to domestic cryptocurrency exchanges. The bill was first unveiled in August – introduced in the House of Representatives, one of two chambers in Australia's Parliament – revealing that lawmakers are considering approaches such as criminal penalties for unlawful exchange operators.

Aussie FinTechs Push Central Bank for ‘Digital Australian Dollar’ Cryptocurrency

A handful of FinTech startups have reportedly submitted use-cases to the Australia’s central bank and Federal Treasury for a state-backed Australian dollar cryptocurrency – the Digital Australian Dollar. According to a report by the Australian Financial Review, three FinTech startups – FlashFX, AgriDigital and Othera have, through industry advocacy group FinTech Australia and the government’s own FinTech Advisory Group, are pressing the Reserve Bank of Australia (RBA) to consider the ‘Digital Australian Dollar’, dubbed the DAD.