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Australia Unveils Crypto Regulation Plan Ahead of Tight Election Australia’s federal government, led by Prime Minister Anthony Albanese's center-left Labor Party, has announced a proposed regulatory framework that would bring cryptocurrency exchanges under the purview of existing financial services legislation. This initiative, timed ahead of a tightly contested national election expected by May 17, aims to formalize oversight of digital asset platforms and tackle the issue of debanking. The Australia... cryptonews today

May Election Could Unlock Institutional Crypto Boom in Australia According to Kate Cooper, CEO of OKX Australia, the country's next federal election, which is scheduled for mid-May, might be a turning point for institutional cryptocurrency adoption. Cooper stated in an interview with Cointelegraph that he hopes the election will result in the long-awaited implementation of a regulatory framework for the cryptocurrency sector. In order to draft legislation that would offer much-needed regulatory certai... crypto news

Australian Wealth Manager AMP Pioneers $27M Bitcoin Investment in Superannuation The $27 million Bitcoin investment by AMP Wealth Management, a well-known Australian financial firm that oversees $57 billion in assets, has garnered media attention. According to an Australian Financial Review story, this strategic allocation is the first time a significant Australian pension fund has made an entry into the Bitcoin market. The investment, which accounted for 0.05% of AMP's total assets, was made in May when Bitcoin values we... Coinatory crypto news

Australia Targets Crypto ATM Operators with Anti-Money Laundering Task Force Australia has taken a bold step to close legal gaps in cryptocurrency transactions by establishing a specialist task force to make sure cryptocurrency ATM operators are adhering to the country's anti-money laundering (AML) regulations. On December 6, the Australian Transaction Reports and Analysis Centre (AUSTRAC) sent out a strong warning, stressing that operators who do not comply will be subject to enforcement actions and heavy fines. With... crypto news today

Australian Police Leverage New Laws to Seize $142K in Crypto In a pioneering move under new seizure powers, Victoria Police have confiscated $142,679.10 in cryptocurrency this year, marking a significant milestone in Australia’s crackdown on crypto-related crime. This first-of-its-kind asset seizure follows updates to the Confiscation Act 1997, enacted in August 2023, granting law enforcement immediate control over digital assets once discovered during investigations. The legislation now enables Victor... cryptonews today

  Australia"s Digital Transformations Agency (DTA) spent 700 thousand Australian dollars (about $500 thousand) on studying the blockchain. The unique competitive advantages of the new technology could not be found, but the budget has been completely depleted. DTA concluded that the blockchain, despite being on the very crest of the HYIP wave, is currently not very effective in almost all sectors related to public services, where it is proposed to be used. Not that it was basically useless, just the existing technologies that the ... Read more about " Australian officials did not find the unique advantages of the blockchain " on coinatory.com

More than 80% of the world"s companies realizing or implemented blockchain projects in varying degrees, with a quarter of them have already launched pilot projects or fully completed their implementation, according to a study by the consulting company PwC. The PwC study "Blockchain is here. What"s your next move? "Is based on a survey of 600 executives from 15 countries and territories: Australia, China, Denmark, France, Germany, Hong Kong, India, Italy, Japan, Netherlands, Singapore, Sweden, UAE, UK and USA. Respondents were asked questions ... Read more about " PwC: More than 80% of companies in the world implement blockchain projects " on coinatory.com

In its annual report on financial fraud, the Australian National Consumer Regulator indicated that fraudulent use of crypto-currencies last year caused Australian losses of more than 2.1 million Australian dollars. The Australian Commission on Competition and Consumer Protection (ACCC) on Monday published a document according to which the total loss of Australians amounted to $ 340 million, of which 200,000 people suffered from fraud - both figures are a kind of a new record in this area. The fraud related to cryptocurrencies, relative ... Read more about " Australian regulator noted a new record of fraud in the field of cryptocurrency " on coinatory.com