Federal Reserve’s Impact on Cryptocurrency Markets Starting June 1, the Federal Reserve will begin draining that plus $3.3 trillion of bank reserves from its nearly $9 trillion balance sheet to put all of this money in motion — a process it called “quantitative tightening”. Quantitative tightening, also known as balance sheet normalisation, is a type of monetary policy followed by central banks. It simply means that a central bank reduces the pace of reinvestment of proceeds...Continue Reading
Current State of Australia’s Cryptocurrency Markets In a bid to protect Australian consumers from cryptocurrency scams, Choice, an Australian based consumer advocacy group has called on the Labor government to provide action on regulating the cryptocurrency industry. They are specifically calling for centralised exchanges to be subject to the consumer protection obligations as in the financial services sector. Cryptocurrency is growing exponentially in Australia. According to a survey from Choice, the findings found that 1...Continue Reading
Navigating the World of Cryptocurrency Trading Australia’s largest bank has decided it will pause its rollout of its Cryptocurrency trading app-based trading of digital currencies such as Bitcoin and Ethereum pending further regulation. The multinational corporation has also sought to pause all testing features, preventing any cryptocurrency sales on its app amid the current cryptocurrency market downturn and uncertainty. Following strong demand, Commonwealth Bank in November, 2021, announced that it will “become Australia’s first bank...Continue Reading
ATO’s Focus on Cryptocurrency and Capital Gains The Australian Tax Office (ATO) has released its four priorities come tax time at the end of this financial year, honing in on four key focus areas, including record-keeping, work-related expenses, rental property income and deductions, but most importantly, capital gains from cryptocurrency assets, property, and shares. An entire publication on these four priorities for the ATO this tax time can be read here. It has warned cryptocurrency investors with...Continue Reading
The Future of LUNA and Algorithmic Stablecoins LUNA (UST), a digital token with a once $16 billion market capitalisation that is designed to maintain a 1:1 peg with the dollar, known as a stablecoin, nosedived over the past 36 hours. Its price fell below $0.65, before somewhat recovering to $0.93 as yesterday before tumbling to as low as $0.59 as of writing. In other words, UST failed dramatically at the one thing that it was supposed to...Continue Reading
Recent Comments