dogecoin, cryptocurrency
Cryptocurrency

The RBA is gearing up for its digital currency trial – but still can’t see the point

- December 19, 2022 2 MIN READ

The Reserve Bank of Australia (RBA) remains sceptical about the need to introduce a fully digital dollar as it looks to begin an eAUD trial early next year. In a speech to a banking conference last week, Assistant RBA Governor Brad Jones said it remained unclear exactly what purpose a central bank digital currency (CBDC)… Read more »

Fred Schebesta
Cryptocurrency

Corporate cop ASIC sues Finder for alleged ‘unlicensed conduct’ over its crypto product Earn

- December 15, 2022 2 MIN READ

Corporate regulator the Australian Securities & Investment Commission (ASIC) has launched ASIC has launched Federal Court action against a subsidiary of comparison website Finder over its recently closed crypto production, Finder Earn. ASIC alleges that Finder Wallet Pty Ltd provided unlicensed financial services, breached product disclosure requirements and failed to comply with design and distribution… Read more »

Cryptocurrency

How FTX Australia got away with claiming it was ‘ASIC-licenced’

- December 14, 2022 3 MIN READ

When cryptocurrency exchange FTX Group collapsed in the Bahamas last month, its local subsidiaries FTX Australia Pty Ltd and FTX Express Pty Ltd fell over too. The Australian companies were placed into administration on November 11 and within days the Australian Securities and Investments Commission (ASIC) had suspended the Australian financial service licence FTX Australia… Read more »

Cryptocurrency

‘I thought crypto exchanges were safe’: the lessons from FTX’s collapse

- December 12, 2022 4 MIN READ

Anthony* (a friend) called a few weeks ago, deeply worried. A deputy principal of a high school in Queensland, over the past year he spent hundreds of thousands of dollars buying cryptocurrencies, borrowing money using his home as equity. But now all his assets, valued at A$600,000, were stuck in an account he couldn’t access.… Read more »

Digital Surge cofounders Dan Rutter and Josh Lehman
Cryptocurrency

Brisbane fintech Digital Surge is the latest cryptocurrency exchange in voluntary administration

- December 9, 2022 3 MIN READ

Brisbane fintech Digital Surge is the latest cryptocurrency exchange to be placed in voluntary administration in the wake of the collapse of US exchange. Scott Langdon, John Mouawad and David Johnstone from KordaMentha Restructuring were appointed voluntary administrators on Thursday, after the fintech’s directors made the decision to put the business in VA on Wednesday.… Read more »

CoinJar cofounder and CEO Asher Tan
Cryptocurrency

CoinJar sheds jobs in wake of FTX collapse

- December 1, 2022 < 1 MIN READ

Blackbird-backed local crypto exchange CoinJar has cut around 20% of its staff amid the ongoing fallout of US rival FTX. Around 10 staff were let go at the Melbourne-based fintech, which pioneered the Australian exchange sector a decade ago. “Like many companies we’ve had to right-size parts of the business in response to poor market… Read more »

bitcoin
Cryptocurrency

Blockchain fintech Ettle launches an AUD stablecoin for companies

- November 29, 2022 2 MIN READ

Australian blockchain fintech Ettle is hoping to introduce an Australian dollar stablecoin for business in 2023 in defiance of a jittery market following torrid year for the cryptocurrency space. The startup has just completed a pilot transaction between business clients on its stablecoin infrastructure platform using the digital Australian dollar token AUDE. Reserve funds are… Read more »

Cryptocurrency

Finder has killed off its fixed return stablecoin product, Earn

- November 25, 2022 2 MIN READ

Comparison site Finder has killed off its cryptocurrency product Earn, which offered customers a flat rate return for investing in stablecoins, arguing it “no longer” served customers amid rising interest rates. In a blog post strangely titled “Finder Earn is being sunset” just two days before the shutdown, the company said “As interest rates have… Read more »

Cryptocurrency

FTX Australia is in administration

- November 11, 2022 2 MIN READ

The Australian arms of crumbling cryptocurrency empire FTX have been placed in voluntary administration. Scott Langdon, John Mouawad and Rahul Goyal of KordaMentha Restructuring took over as administrators of the Sydney-based cryptocurrency businesses  FTX Australia Pty Ltd and subsidiary FTX Express Pty Ltd on Friday following a board meeting earlier today that decided to place… Read more »

bitcoin
Cryptocurrency

Corporate regulator ASIC puts a temporary halt on Sydney investment firm Holon offering 3 crypto funds to retail investors

- October 17, 2022 2 MIN READ

Corporate regulator the Australian Securities and Investments Commission (ASIC) has sin-binned Sydney firm Holon Global Investments from offering three of its cryptocurrency funds to retail investors for three weeks due to concerns that they’re not suitable for the retail market, with the product disclosure statements pointing out that the funds could end up worthless. The… Read more »