Andrew Bragg
Cryptocurrency

After 15 months in power, federal Labor continues to hasten slowly on regulating cryptocurrency

- September 5, 2023 4 MIN READ

Regulation of Australia’s cryptocurrency sector remains a distant possibility, despite a catastrophic 12 months for the industry, after a government-dominated committee preferred to kick the can further down the road rather than embrace a private senator’s bill on the issue from opposition senator Andrew Bragg. The Senate Economics Legislative Committee, chaired by Labor’s Jess Walsh,… Read more »

Daniel-Petre StartGiving
People

AirTree founding partner Daniel Petre appointed to the $15bn National Reconstruction Fund board

- August 10, 2023 2 MIN READ

The Albanese government has appointed venture capitalist and philanthropist Airtree cofounder Daniel Petre to the board of its $15 billion National Reconstruction Fund to be chaired by climate investor Martijn Wilder, founder and CEO of Pollination. The eight-member board for the government’s signature investment project also includes Invest Victoria chair Ahmed Fahour, MD of Latitude… Read more »

Dirty Rotten Scoundrels, Steve Martin & MIchael Caine
Cyber security

The ATO is Australia’s biggest cyber scams victim, losing $500m & revealing major flaws in the myGov ID system

- August 2, 2023 3 MIN READ

The Australian Tax Office (ATO) paid out more than half a billion dollars to cyber criminals between July 2021 and February 2023, according to an ABC report. Most of the payments were for small amounts (less than A$5,000) and were not flagged by the ATO’s own monitoring systems. The fraudsters exploited a weakness in the… Read more »

Atlassian, Mike Cannon-Brookes, Scott Farquhar
Politics

Atlassian cofounders say ‘yes’ to Voice referendum on giving Indigenous Australians a say in Constitution

- July 17, 2023 2 MIN READ

Atlassian cofounders and co-CEOs Mike Cannon-Brookes and Scott Farquhar have backed the Australian Indigenous Voice referendum, saying it will “move us closer to meaningful reconciliation” and a more equitable nation. In a note to staff late last week, the pair said that “empowering First Nations communities is something we’ve always believed in and backed in… Read more »

Business woman prepare writing a check
Politics

CHEQUE OUT TIME: the Australian government’s payments strategy plan goes digital, ending cheques by 2030

- June 9, 2023 3 MIN READ

Buoyed by dramatic changes in the way consumers pay for goods and services, Australia’s payments processing ecosystem will be overhauled based on a new strategic plan that includes the phasing out of cheques and full transition to the New Payments Platform (NPP). The newly launched Strategic Plan for Australia’s Payments System – developed through consultation with regulators,… Read more »

Tom Cruise Minority Report
Politics

The Australian government is going to force Big Tech to scan your photos and emails for illegal things

- June 7, 2023 3 MIN READ

Tech giants will be forced to scan Australians’ emails, online photo libraries, cloud storage accounts and dating sites for illegal content or face fines of nearly $700,000 per day, the eSafety Commissioner has said after rejecting two proposed industry codes as inadequate. Developed by key service providers and delivered to eSafety in February for review, the problematic… Read more »

Ed Husic
AI/Machine Learning

The Australian government wants feedback on regulating artificial intelligence and its risks

- June 2, 2023 2 MIN READ

The federal government is seeking feedback on mitigating any potential risks from the use of artificial intelligence technologies (AI) and how to build a safe framework for its use amid growing global concerns that seeing machine learning as potentially an existential threat to humanity. Science and industry minister Ed Husic released two discussion papers on… Read more »

Rehan D'Almedia
Politics

FinTech Australia and open banking companies want the federal government to sort out a consumer data right roadmap

- May 30, 2023 3 MIN READ

Australia’s roll out of open banking under the consumer data right (CDR) is stalling ahead of the third anniversary of its introduction, with industry lobby groups and the fintech sector calling on the federal government to put in place a long sought-after roadmap for CDR implementation. FinTech Australia and the Financial Data and Technology Association… Read more »

Afterpay
Fintech

The Australian government will apply responsible lending rules to buy now pay later fintechs

- May 23, 2023 2 MIN READ

The government is moving to regulate buy-now-pay-later (BNPL) services under the Credit Act and force companies like AfterPay, to follow a set of responsible lending obligations. Financial Services Minister Stephen Jones on Monday that he wanted to maintain innovation and competition in the market but stop the “harmful effects of poor marketing practices and poor… Read more »

Jim Chalmers
Business

Tech and startup sector reactions to the 2023 federal budget

- May 10, 2023 7 MIN READ

Labor’s second budget in 7 months focused on cost-of-living pressures, with modest concessions for the business sector in an equally tough economic environment. The $392 million Industry Growth Program (a revamped version of the former government’s Entrepreneurs’ Program and Accelerating Commercialisation grant program, with increased funding), was the headline act. The program will support SMEs… Read more »

Jim Chalmers
Politics

Budget 2023: what you need to know and what it all means at a glance

- May 9, 2023 < 1 MIN READ

Treasurer Jim Chalmers has delivered his second budget with a heavy focus on cost-of-living relief for Australians who are struggling due to persistently high inflation and rising interest rates. While Chalmers says the economy should continue to create jobs and unemployment is expected to remain historically low, inflation remains the top economic concern. Chalmers says… Read more »