Commonwealth Bank of Australia News

Crypto bosses say the government now needs to bring in clear rules, so regulators and banks can distinguish the good from the bad actors.

The trial is part of Project Acacia, an initiative from the RBA exploring how digital money and tokenization could support financial markets in Australia.

ANZ’s banking executive Nigel Dobson says the bank sees “real value” in tokenizing real-world assets on-chain like the Aussie dollar.

Ben Rose is hopeful that Binance Australia’s banking woes will be relieved by positive regulation in the future.

A new partnership between Independent Reserve and PayPal offers investors extra choice and “mitigates the risks” of Australian crypto banking blocks, says CEO Adrian Przelozny.

Simon Callaghan said that efforts need to start on social media and telecommunication channels where most cryptocurrency scams originate.

During a panel at the Australian Blockchain Week, executives from Australia’s major banks explained why they added restrictions on payments to local crypto exchanges.

While young Australians are more interested in crypto, it’s the 25- to 49-year-olds who own the most.

Commonwealth Bank executive James Roberts cited a huge scale of “investment scams” involving crypto exchanges.

The move comes as Australians continue to reduce their usage of cash and bank branches, but has sparked fears that the death of cash is near.

This marks the second “Big Four” bank in Australia to launch an Australian-dollar pegged stablecoin in a bid to boost the digital economy.

Leigh Travers feels that a change in Australia’s government could slow down work on crypto regulations that could prove that the industry is already operating at a higher level than traditional finance.

Executives from two of Australia’s “big four” banks have said they won’t allow their retail customers to trade crypto with ANZ, adding they’re happy they didn’t “go head long” into a cryptocurrency offering.

Commonwealth Bank of Australia CEO Matt Comyn insists his bank will move forward with the second pilot of crypto services on its app once regulatory uncertainty is cleared up.

“Most of the industry utilizes non-bank and often unregulated USD stablecoins. Now with this Big 4 bank-issued AUD stablecoin, the use case is a lot more compelling,” said ZeroCap CEO Ryan McCall.