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
The online casino industry has seen a huge boom in recent years, and the Australian gaming market has also seen impressive growth. The industry has been thriving since regulation came into place in 2001 under the Interactive Gambling Act. Our gambling experts have researched the gaming landscape and always strive
Recently, the Australian government announced its intention to license cryptocurrency exchanges as a means of regulating the digital asset market. The policy shift has consumer protection and innovation in the crypto sector as its stated goals. Concerns have been raised by certain exchanges, however. On October 16, the Australian Treasury
The Economic Legislation Committee of the Australian Senate has voiced strong opposition to a Bill that would support regulation of crypto trading platforms in Australia. InnovationAus.com, a public policy and commercial innovation think tank, said that the Committee’s rejection was based on the perception of internal strife within any movement
Australia’s central bank has completed the pilot of the Central Bank Digital Currency (CBDC), researching the use cases for a potential digital dollar. The report revealed that Australia would not make any decisions on CBDCs for some years due to some unresolved issues that came up at the end of
