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...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...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...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...Continue Reading
Swyftx’s ‘Earn’ Feature: A Game Changer for Australia Swyftx, one of Australia’s most popular cryptocurrency exchanges, is set to innovate Australia’s markets by offering their new product ‘Earn’, which offers interest-bearing yields on a wide range of cryptocurrency assets. They will be the first Australian-operated centralised cryptocurrency exchange to do so. In doing so, Australian...Continue Reading
Why Ethereum is Crucial for the Future of Crypto Mining Last Friday, the deposit contract for staking Ethereum (ETH) on the Beacon Chain reached over 10% of the entire supply, containing over 12 million in Ethereum. Formerly known as ETH 2.0, the deposit contract for Ethereum’s consensus layer now has ETH worth over $34 billion...Continue Reading
How BlackRock is Shaping the Future of Blockchain with its New ETF Blackrock, an American multinational investment management corporation that is a leader in investment management, risk management and advisory services worldwide, has launched its blockchain ETF, offering its investors exposure to the cryptocurrency sector. Blackrock is the world’s largest asset manager with $10 trillion...Continue Reading
How Goldman Sachs is Embracing Crypto with Bitcoin-Backed Loans In the latest signs that Wall Street is moving towards cryptocurrency, Goldman Sachs has successfully offered its first Bitcoin-backed loan. The secured lending facility lent cash collateralised by Bitcoin owned by the borrower, a spokeswoman for Goldman Sachs said. “We recently extended a secured lending facility...Continue Reading
The Australian Prudential Regulation Authority (APRA) has published a letter to Australian regulatory bodies on Thursday setting out its expectations of risk management, as well as a roadmap for digital assets policy through 2025. Chairman Waynes Byres detailed in the letter “while activities associated with crypto assets are still relatively limited in Australia,...Continue Reading
The First Bitcoin ETF in Australia: A Game-Changer for Investors After many months of industry consultation, in November of 2021, the Australian Securities and Investments Commission (ASIC), approved long awaited Bitcoin and Ethereum exchange-traded funds (ETFs). In doing so, ASIC has provided the best-practice requirements and guidelines for those issuing Bitcoin or Ethereum ETFs,...Continue Reading
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