The decision in an Australian court was driven by increasing concerns about illicit activities in the crypto market and the desire to safeguard investors. An Australian court has reportedly ordered Meta Platforms, the owner of Facebook, to pay fines amounting to 20 million Australian dollars ($14 million) for collecting user data through a smartphone application,…
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In the wake of over 5,000 crypto ATMs being taken out of service during the initial four months of 2023, the past four months have witnessed a resurgence in global crypto ATM installations. Crypto ATM Landscape Rebounds After Downturn Ever since the debut of the first bitcoin ATM in Vancouver, Canada, back in 2013, there…
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Australia’s securities regulator has canceled the license of the local FTX entity, allowing it to perform only limited financial services. These will be related to the termination of derivatives with clients and arrangements to compensate retail customers. ASIC Revokes Financial Services License of Crypto Exchange FTX Subsidiary The Australian Securities and Investments Commission (ASIC) announced…
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ASIC had previously suspended FTX’s license to operate in Australia; now the securities regulator has canceled it entirely. The Australian financial services regulator has finally canceled the financial license of FTX Australia, the bankrupt crypto exchange’s local subsidiary. On July 19, the Australian Securities and Investments Commission announced the cancellation, which took effect July 14.…
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National Australia Bank (NAB) has joined other major lenders in the country in blocking payments to some cryptocurrency exchanges. The banking institution said it’s introducing new customer protections regarding financial transactions with certain scam-related crypto platforms. Australia’s NAB Bank Intervenes in $184 Million Worth of Payments That Raised Scam Concerns National Australia Bank, one of…
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A recent report released by K33 Research three days ago reveals that as of July 2023, the cryptocurrency industry boasts approximately 10,000 companies, employing an estimated 190,000 crypto professionals. Notably, K33 provides a comprehensive snapshot of the crypto landscape, highlighting that these 10,000 firms possess a collective valuation of $180 billion. K33 Research Unveils Crypto…
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Australia’s financial regulator has visited Binance offices as part of an ongoing probe into the company’s defunct local derivatives business. On Tuesday, officials from the Australian Securities and Investments Commission (ASIC) conducted searches at Binance Australia’s offices, Bloomberg reported, citing people familiar with the matter. The investigation revolves around Binance Australia’s classification of clients as retail or wholesale investors. … Read More:…
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Binance said it is cooperating with Australian regulators to meet local regulatory requirements amid reports of office searches. Binance Australia is working with local authorities on meeting compliance requirements amid reports alleging the company’s offices were searched on July 4. “We are cooperating with local authorities, and Binance is focused on meeting local regulatory standards…
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This week’s Crypto Biz looks at the story behind Binance’s debanking in Australia, Bitcoin miners preparing for the next halving, and Bitfinex’s expansion in Latin America. June was a tough month for Binance, as it faced stress tests worldwide after the United States Securities and Exchange Commission (SEC) filed a lawsuit against the crypto exchange…
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Dilip Rao, a former Ripple executive who’s now leading Australia’s CBDC pilot, has been examining 14 possible use cases of central bank digital currencies. Central bank digital currencies (CBDCs) may not solve any problems faced today, but could be the answer to ones not even fathomed yet, says the executive spearheading Australia’s CBDC pilot. Dilip…
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