Cuscal, the third-party payments provider for Binance Australia, suggested that the decision to discontinue its services influenced by concerns over scams and fraud. That is associates with activities such as account fraud, ID takeover, and cryptocurrency transactions. In a sudden move, Binance Australia declared on May 18 that its Australian
Binance Australia has temporarily halted its Australian dollar services due to a disruption in support from its local payment services provider. Binance Australia took to Twitter on May 18 to inform users that AUD PayID deposits temporarily halted. And warned that bank transfer withdrawals would be impacted as well, citing
Increase in demand for ATMs in Australia, an intuitive financial service company named Olliv brought more than 300 ATMs into the country. These are based on cryptocurrencies decreasing the chance of fraud. These ATMs support cash deposits to buy any cryptocurrencies like Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH), and even
After failing to secure funds from an unnamed investor, Australian blockchain startup Everledger has apparently filed for bankruptcy. According to the AFR on May 8, Everledger, a company that utilizes blockchain technology to trace the origin of diamonds and other items, was unable to close its most recent investment round.
A new law that would establish guidelines for the provision of crypto services in Australia has been submitted. The proposal has been submitted to the Australian Parliament. Digital Assets (Market Regulation) Bill 2023 was introduced by Senator Andrew Bragg as a private senators’ bill. This was with the stated purpose
Recently, the Australian central bank, which has been investigating the potential advantages of central bank digital currency (CBDC), published the planned use cases for CBDC and the identities of the providers who have been asked to participate in the live trial. The bank, known as the Reserve Bank of Australia
A complex international network of crypto call-center fraudsters, allegedly headed by Israeli organized crime kingpins, has been exposed as a major threat to Australian citizens. Australians were determined to be among the most targeted nationalities when Serbian, German, Bulgarian, and Cypriot officials conducted a massive raid on four call centers
Immutable, a prominent Australian crypto gaming firm, recently announced it has laid off 11% of its workforce in order to preserve its financial reserves for the indefinite future. Having already laid off staff in July 2022, Immutable is now doing so again. The layoffs were disclosed in a memo emailed
The first phase of Australia’s multi-year strategy to regulate Bitcoin and cryptocurrencies has been unveiled. Through this new approach, the government wants to make sure the regulation of cryptocurrencies safeguards users, according to Assistant Treasurer Stephan Jones. The release cites shoring up enforcement, boosting user protection, and creating a structure
Australia’s second native currency-backed stablecoin is going to be live soon, as regulated banks around the globe are turning their focus over the stablecoins. National Australia Bank (NAB) has developed an AUDN, having a one-to-one peg with the Australian dollar. Australia and New Zealand Banking Group Limited (ANZ) released the
