Binance
Cryptocurrency

US regulators launch legal action against crypto giant Binance alleging they broke US money laundering laws

- March 28, 2023 2 MIN READ

The US Commodity Futures Trading Commission (CFTC) has launched a suit against the world’s biggest cryptocurrency exchange Binance, claiming the company was deliberately skirting local regulation and knowingly facilitated the illicit flow of money. In a complaint against Binance, its founder Changpeng Zhao, and chief compliance officer Samuel Lim, the CFTC alleged the Binance team… Read more »

Steve Smith, Bamboo
Cryptocurrency

Cricketer Steve Smith is the latest celebrity to get into the crypto touting business

- March 7, 2023 2 MIN READ

Concerns about the cryptocurrency, including pending Australian regulation, have not deterred cricketer Steve Smith from wading into sector, taking a minority equity stake in Perth crypto app Bamboo, and also becoming its brand ambassador. The move by Smith comes as US sports stars including NFL legend Tom Brady, NBA star Stephen Curry and tennis champion… Read more »

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 »