Grant Colthup, the former CEO of Mine Digital, faces serious fraud charges for allegedly stealing $1.5 million from a customer. This transaction occurred just two months before the firm collapsed in September 2022. The Australian Securities and Investments Commission (ASIC) announced the charges on October 21, detailing a transaction that
Australian police have seized $6.4 million in cryptocurrency tied to a global criminal group. The seizure was part of “Operation Kraken”, a long-running investigation. Authorities revealed that the funds were linked to the group’s alleged leader. Operation Kraken is a collaborative effort involving Australia and international law enforcement. However, the
Australia’s financial regulator, the Australian Securities and Investments Commission (ASIC), is pushing for tighter control over the country’s cryptocurrency sector. ASIC Commissioner Alan Kirkland has revealed that crypto firms, not just exchanges, may soon be required to obtain licenses under the Corporations Act. This move is intended to offer better
Jason Titman, CEO of Australian cryptocurrency exchange CEO, Jason titman Swyftx, has noted that millions of potential crypto investors in Australia are hesitant to enter the market due to unclear regulations. Titman predicts that once the regulatory environment stabilizes, between two to six million Aussies will likely venture into cryptocurrency
In a recent blog post, Kraken Australia detailed its concerns about ASIC’s judgment, which it believes reflects the broader ambiguity in the country’s regulatory environment. According to Kraken, the ruling exemplifies the challenges that crypto businesses face in Australia, where regulations remain unclear and inconsistent. Kraken Australia’s criticism comes at
In an official press release, Monochrome, an Australian asset management firm teamed up with entity partner Vasco Trustees Limited, an investment management group, has officially applied to quote the Monochrome Ethereum exchange-traded fund (ETF) on Cboe Australia. The new fund is structured to offer exposure to Ethereum, further enhancing Monochrome’s
Australians has suffered significant financial losses to cryptocurrency scams, amounting to $122 million over the past 12 months, according to the Australian Federal Police (AFP). The increase in scam activity highlights a worrying trend as more Australians venture into the digital currency space. Many victims fall prey to schemes promising
Australian Defunct platform BitConnect’s former promoter was convicted on Friday at a District Court in Wales, Sydney. John Bigatton was found guilty of providing unlicensed financial advice during the span of August 2017 to January 2018. He is currently sentenced to a three years of ‘good behavior recognizance’ and a
The Australian Government announced the ban on cryptocurrency and credit card usage in online betting games on Tuesday. The announcement is a recent development of the country’s progress towards curbing ‘problem gambling’ in both physical and digital spheres. The Australian Government has been working on the ban since 2021. After
Coinbase, a leading cryptocurrency exchange, is gearing up to introduce a specialized service aimed at Australia’s self-managed pension sector, according to insights shared by John O’Loghlen, the Managing Director for the Asia-Pacific region at Coinbase, says Bloomberg. The move comes as self-managed superannuation funds in Australia have increasingly shown interest
