In a significant legal win for Australia’s crypto and fintech industry, the Federal Court has overturned a previous ruling that required digital finance firm Block Earner to obtain a financial services license for its discontinued fixed-yield crypto product. The latest decision, handed down by Justices David O’Callaghan, Wendy Abraham, and ...
The Australian Federal Court has delivered a significant ruling in favour of Block Earner, a crypto lending platform, marking a pivotal moment for the digital asset industry in Australia. The decision, handed down in Sydney, represents a major setback for the Australian Securities and Investments Commission (ASIC), which had accused ...
In a significant crackdown on scam operations, the Federal Court of Australia has approved the winding up of 95 companies suspected of running elaborate crypto investment and romance scams, commonly known as “pig butchering” schemes. The decision followed an application by the Australian Securities and Investments Commission (ASIC), which alleged ...
Australia is set to tighten regulations on crypto exchanges and stablecoin issuers as part of a proposed regulatory overhaul. The country’s Treasury Department has released a policy paper detailing plans to incorporate key elements of the digital asset sector into existing financial services laws. The paper explains that the new ...
The Australian Federal Police (AFP) has launched an investigation into a large-scale cryptocurrency scam in which fraudsters impersonated Binance representatives to defraud Australians. In a joint statement, the AFP, the National Anti-Scam Centre (NASC), and Binance Australia revealed that the scheme was uncovered as part of Operation Firestorm—a global initiative ...
In a coordinated international effort, the United States, the United Kingdom, and Australia have imposed sanctions on Russia-based hosting provider Zservers and its UK-based affiliate, XHOST Internet Solutions LP, for allegedly facilitating cybercrime. The sanctions, announced on February 11 by the U.S. Treasury’s Office of Foreign Assets Control (OFAC), Australia’s ...
OKX Australia has launched two innovative trading bots Spot Grid Bot and DCA Martingale designed to provide Australian crypto traders with advanced automated tools for market engagement. The bots simplify crypto trading by automating strategies, allowing users to trade 24/7 while managing risk on their terms. With Australia's crypto user ...
The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against Binance's Australian operator, Oztures Trading Pty Ltd. The regualtor accused the crypto derivatives platform of misclassifying over 500 retail clients as wholesale investors, and thus, denying these clients essential legal protections under Australian financial laws. In a December ...
The Australian government is set to launch a National AI Capability Plan to strengthen the country’s artificial intelligence (AI) industry, which is projected to contribute significantly to the economy by 2030. However, industry leaders have urged a faster timeline, warning that delays may hinder Australia’s ability to compete in the ...
The Australian Securities and Investments Commission (ASIC) has fined Bit Trade, the local operator of the Kraken crypto exchange, of AUD 8 million (approximately USD 5.2 million) for illegally providing credit facilities to over 1,100 customers. The announcement was made on December 12. According to the regulators, In October 2021, ...
