ASIC – Ƀitsell X

Kraken Adjusts Margin Product to Comply With Australian Crypto Law, Calls for Clearer Regulation

September 10, 2024

The Australian Federal Court ruled that Kraken’s fiat margin extensions are subject to regulatory obligations, but crypto margin extensions are not. Kraken acknowledged the decision but stressed the need for clearer crypto regulations in Australia. Following the ruling, Kraken adjusted its margin product to restrict fiat margin trading for non-wholesale investors, while crypto margin extensions…
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Kraken Crypto Exchange Operator Fined by Australian Court

August 24, 2024

The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto exchange Kraken in Australia, failed to meet regulatory obligations for its margin trading product. The product was offered without a required market determination, breaching the Corporations Act. ASIC emphasized the need for compliance in the crypto industry, aiming to ensure consumer…
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Bitcoin Miner Bitdeer Unveils $150M Convertible Notes Offering With 8.5% Yield

August 17, 2024

Bitdeer Technologies Group has set the stage for a $150 million convertible notes offering, featuring an annual interest rate of 8.5%. The deal is scheduled to wrap up on Aug. 20, 2024. This move aligns with a broader trend in the bitcoin mining sector, where firms have collectively secured $2.1 billion through stock offerings since…
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Australian Court Convicts Bitconnect Promoter for Providing Unlicensed Advice

July 16, 2024

John Bigatton, the Australian promoter of Bitconnect, has been convicted by the Sydney District Court for providing unlicensed financial advice, violating section 911B(1) of the Corporations Act 2001, the Australian Securities and Investments Commission (ASIC) announced Monday. Between August 2017 and January 2018, Bigatton promoted Bitconnect through seminars and social media, claiming significant returns on…
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Core Scientific Partners With Block to Receive 15 EH/s in New Bitcoin Mining ASICs

July 12, 2024

Core Scientific, a large U.S.-based bitcoin mining and hosting provider, and Block, a leading financial services firm, have partnered in a project to integrate the first 3nm bitcoin mining chips produced by the latter. Core Scientific will receive 15 exahash per second (EH/s) of Block’s mining ASIC chips, with the possibility of ordering additional silicon…
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Australian Regulator Appeals Court Decision Exempting Block Earner From Penalty

June 20, 2024

Australian Securities and Investments Commission (ASIC) stated on Tuesday that it had appealed the federal court’s decision to relieve Web3 Ventures Pty Ltd., trading as Block Earner, from liability to pay a penalty for offering unlicensed financial services through its crypto-related Earner product. On June 4, the court found Block Earner’s contraventions serious but exempted…
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Bitmain’s New S21 Bitcoin Mining Rigs Debut With up to 473 TH/s of Hashpower

June 18, 2024

At the World Digital Mining Summit in Las Vegas, Bitmain, a leading manufacturer of application-specific integrated circuit (ASIC) bitcoin mining rigs, introduced two new mining machines. Both models—one air-cooled and one hydro-cooled—boast an efficiency rating of under 14 joules per terahash. Bitmain Introduces S21 XP and S21 XP Hydro Bitmain’s new Antminer S21 series mining…
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Bitcoin Miner Bitdeer Expands With Acquisition of ASIC Designer Desiweminer

June 6, 2024

Bitdeer Technologies Group announced its acquisition of Desiweminer, a noted player in the crypto ASIC design landscape. The agreement, finalized on June 3, 2024, involves the exchange of 20 million Bitdeer shares and introduces stringent transfer restrictions, with a vesting period extending up to seven years. Bitdeer and Desiweminer Join Forces in Multimillion-Share Acquisition Deal…
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Australian Federal Court Rules in Favor of ASIC, Against Unlicensed Qoin Crypto

May 3, 2024

An Australian Federal Court on Friday, ruled in favor of the Australian Securities and Investments Commission (ASIC) regarding an unlicensed crypto platform that misled customers. The court noted that a Gold Cost crypto promoter – BPS Financial – allegedly broke the law by promoting unlicensed crypto wallet. The firm misled customers while offering the ‘Qoin…
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LAPD Recovers $6.9 Million Worth of Stolen Bitcoin Mining Rigs, Suspects in Custody

March 23, 2024

The Los Angeles Police Department (LAPD) has apprehended three individuals following the theft of bitcoin mining equipment valued at $6.9 million. The Commercial Crimes Division’s Cargo Theft Unit announced the retrieval of all stolen items. California Authorities Arrest Trio for Stealing Bitcoin Mining Hardware On March 19, 2024, the LAPD, along with detectives from the…
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