Cryptocurrency Exchange Planned by Samsung Cryptocurrency exchange plans are in motion as Samsung, the South Korean multinational manufacturing conglomerate, sets its sights on creating a digital asset exchange in the first half of 2023. The tech giant’s investment firm, Samsung Securities, will spearhead this initiative.   According to reports out of South Korea’s local media,...Continue Reading

What is an ASIC in Crypto Mining   The chairman of ASIC, Joe Longo, speaking at a lunch in Melbourne on Tuesday, said ASIC’s focus would be on protecting people participating in the financial system” and guarding against consumer harms.   The head of the corporate watchdog says his job is to protect consumers and...Continue Reading

Australia’s Government to Pioneer “Token Mapping” in Cryptocurrency Australia’s Government will look to become the first nation to “token map” the cryptocurrency digital assets sector as the government seeks to provide to improve System for Cryptocurrency. In a statement yesterday, the Australian treasury and its treasurer, Jim Chalmers, announced a multi-multi-step plan to establish a...Continue Reading

The Role of Digital Currency in the Future  According to Cointelegraph, the Reserve Bank of Australia (RBA) is weighing in on the race of exploring the use cases of central bank digital currency (CBDCs) in the nation.     In doing so, it will collaborate with the Digital Finance Cooperative Research Centre (DFCRC) on a...Continue Reading

U.S. Sanctions on Cryptocurrency Mixers On Monday the U.S. Treasury Department placed sanctions against the cryptocurrency mixing service Tornado Cash, citing its use by the North Korea-backed Lazarus Group in the high-profile hacks of Ethereum bridges to launder and cash out the ill-gotten money.     Tornado Cash is a so-called mixer, which blends streams...Continue Reading

ACCC Trials Countermeasures to Cryptocurrency Scams The Australian Competition and Consumer Commission (ACCC) is the chief competition regulator of the Government of Australia, located within the Department of the Treasury. It was established in 1995 with the amalgamation of the Australian Trade Practices Commission and the Prices Surveillance Authority to administer the Trade Practices Act...Continue Reading

Bitcoin Mining Industry Reaches 59.5% Sustainable Energy The global Bitcoin mining industry had a sustainable electricity mix of 59.5% during Q2 of the year, or a marginal increase compared with Q1, according to the latest quarterly survey conducted by the Bitcoin Mining Council.   The latest Q2 report also details how energy efficiency among Bitcoin...Continue Reading

Zipmex’s Withdrawal Freeze Zipmex, a  cryptocurrency exchange that operates in Singapore, Thailand, Indonesia and Australia has paused withdrawals on its platform following a “combination of circumstances” beyond its control.   Per Cointelegraph, reports that Zipmex could be in trouble were dismissed as “rumours” by CEO and co-founder Marcus Lim following the failed acquisition of the...Continue Reading

Tesla’s Bitcoin Strategy and Its Impact Leading electricity car manufacturer Tesla has revealed it has converted 75% of its Bitcoin holdings into fiat currency, selling $936 million worth, the company reported Wednesday in its earnings report.     “As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat...Continue Reading

Crypto Technology Endorsed by Australian Central Bank Governor The governor of Australia’s central bank, Phillip Lowe, has stated that a private solution could be “better” for cryptocurrencies and blockchain technology, as long as the risks in dealing with these sectors can be mitigated by strong and proper regulations, however the tech should be made by...Continue Reading