Following strong demand, Commonwealth Bank in November, 2021, announced that it will “become Australia’s first bank to offer,cryptocurrency services which give customers the ability to buy, sell and hold crypto assets, directly through the CommBank app.” In doing so, CBA partnered with Gemini, one of the world’s largest regulated cryptocurrency exchanges and custodians, as well as Chainalysis, a leading blockchain analysis firm. It will allow CBA customers access to up to ten selected cryptocurrencies, including BTC,...Continue Reading
It was learnt in mid March that Do Kwon, founder of Terraform Labs and Ethereum layer 1 blockchain competitor Terra, was planning to accumulate US$10 billion worth of Bitcoin (BTC) to add to the project’s stablecoin reserves. $UST with $10B+ in $BTC reserves will open a new monetary era of the Bitcoin standard. P2P electronic cash that is easier to spend and more attractive to hold #btc — Do Kwon 🌕 (@stablekwon) March 14, 2022 As...Continue Reading
Digital Assets and Web 3.0: Australia’s Legislative Path Australia’s federal government is considering legislation to position the country in the emerging Web 3.0 landscape, which underpins cryptocurrencies and digital assets. Web 3.0 represents the third iteration of the web, following the 1990s’ Web 1.0 and the current Web 2.0. This new phase is built on blockchain technology, emphasizing decentralization and token-based economics. It enables the processing of information through technologies such as decentralized ledger technology, Big Data, and...Continue Reading
Joe Biden’s executive order on digital currencies The White House and Joe Biden signed the executive order on digital currencies on Wednesday. The entire brief can be read here. In doing so, the U.S. government has directed agencies across the federal government to coordinate strategies to gauge both the advantages and disadvantages posed by cryptocurrency ownership, and whether the U.S. needs their very own U.S. digital currency according to Presiden Joe Biden. The new...Continue Reading
PART 4: Crypto Future & Journey 2022 What we have seen so far in 2022 Entering 2022 and the month of January saw a highly volatile market, continuing the negative trend line, with many of the top crypto losing a lot of value. BTC began the year with a $900 billion market capitalisation and a price of $47,600, having been down 5.4% in the week, ETH was at $448 billion market cap with a price of $3,770,...Continue Reading
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