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 respective research project. The DFCRC is a $180 million research program funded by industry partners, universities and the Australian Government, which aims to...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 of digital currency to mask their origin and improve anonymity. To achieve privacy, TC uses smart contracts that accept token deposits from...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 1974, which was renamed the Competition and Consumer Act 2010 on 1 January 2011. The ACCC’s mandate is to protect consumer rights and...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 miners is on the rise. The full report can be read here. The survey, which collected data from over 50% of...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 Thai exchange by Coinbase. “Due to a combination of circumstances beyond our control, including volatile market conditions, and the resulting financial...Continue Reading
Recent Comments