News
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
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Australia News
The Commonwealth of Australia is the sixth largest country in the world and is the only one that occupies a whole continent. It also includes several islands. The state has a strong economy and its GDP per capita is bigger than that of Great Britain, Germany, etc. The growing popularity of Bitcoin hasn’t gone unnoticed in the country. In Australia, cryptocurrency is almost a legal form of payment, as the government is making efforts to give Bitcoin the status of either a national or foreign currency. In July 2017, the government cancelled a double tax for transactions with Bitcoin in Australia to provide a better cryptocurrency environment. In Australia, cryptocurrency exchange is possible with plenty of ATMs and online platforms.
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Australia’s crypto exchanges have been largely positive about the government’s proposed crypto laws, but have told the Treasury that further clarity is needed.
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The Australian crypto user base is expected to grow to 11.16 million by next year, with nearly 41% of Australians participating in crypto.
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Young Australians feel they could have made a bigger dent in their property goals if they had invested in cryptocurrency 10 years ago, and now they’re locked out.
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Top exchanges in Hong Kong, India and Australia are rejecting companies seeking to become crypto hoarders, citing shell company concerns.
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Minister Tony Burke said the government won’t be pushing for an outright ban on crypto ATMs, but he wants to provide AUSTRAC with the power to implement one.
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EU lawmakers have sought to introduce Chat Control, while the UK and Australia are on track for digital ID systems. Pavel Durov warns that these “dystopian” measures must be stopped.
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Crypto exchange Gemini is expanding its offering in Australia with a local entity and team, and plans to sit back and watch the country’s consultation on crypto laws.
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Australia has released draft legislation to create new crypto products, bringing the crypto companies under the same rules as financial services businesses.
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Global exchanges Coinbase and OKX are betting big on Australia’s pension pie, pushing crypto into self-managed super funds.
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Bitcoin’s price pumped on news that the US Federal Reserve would cut rates by one quarter of a point.
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Australia’s financial regulator has granted licensing exemptions for intermediaries distributing AFS-licensed stablecoins, starting with AUDM.
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South Korean fintech unicorn Toss plans to launch a finance superapp in Australia this year and issue a Korean won stablecoin once regulations allow.
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Crypto bosses say the government now needs to bring in clear rules, so regulators and banks can distinguish the good from the bad actors.
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Australian authorities busted a $123-million crypto fraud. The scheme used seemingly legit businesses for crypto money laundering.