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Binance Australia is working with local authorities on meeting compliance requirements amid reports alleging that the company’s offices were searched on July 4."We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner,”
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Blockchain Australia’s new CEO, Simon Callaghan, is urging Australia’s banks, the government and the crypto industry to come together to combat rising cryptocurrency scams.Speaking on the final day of Australian Blockchain Week in Melbourne on June 30, Callaghan announced the association will now be focused on helping prevent scams that
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The growing trend of cutting services to cryptocurrency companies in Australia could lead to undesired consequences like making the industry less transparent, according to the state.Australia's Treasury on 28 June published an official statement addressing potential policy responses on debanking in Australia. Debanking occurs when a bank declines to provide services
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Blockchain Australia's commitment came after hosting a "Stopping Scams Roundtable" involving 28 representatives, as well as observers from the Australian Securities and Investments Commission (ASIC) and Treasury. Earlier this month, the body had denounced the de-banking of cryptocurrency platforms and said it would host a roundtable meeting to discuss the
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In the middle of the night, Binance Australia’s team was suddenly told it would be “cut off” from Australia’s banking system. There was no prior warning, consultation or redress, the exchange’s regional manager Ben Rose has claimed.On May 18, Binance Australian announced its dollar services were suspended after its payments
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"Our banking partner, Cuscal has updated its Merchant guidelines which contain new requirements for all digital currency exchanges that are supported by Cuscal," the "survey" reads. "If you do not currently comply with the new requirements, we are happy to consider a reasonable time frame for implementation. Please note, if
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“The recent decision by banking institutions to restrict millions of their customers from making payments to cryptocurrency exchanges represents a profound curtailment of economic freedom in Australia," said Jackson Zeng, director of Blockchain Australia. "Every individual has the inherent right ... to make decisions on how and where to use
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Customers can still buy and sell crypto using credit and debit cards after the halt, which was announced last month. Original Source
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Binance users in Australia now have a narrowed pool of options to purchase cryptocurrencies amid the ongoing global debanking of crypto businesses. Since 5:00 pm local time on June 1, fiat on-ramps and off-ramps by bank transfers have been halted in Australia. The suspension includes trading for Australian dollar (AU$)
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The Australian government has announced a sudden eight-week consultation that will seek to understand whether any “high-risk” artificial intelligence tools should be banned.Other regions, including the United States, the European Union and China, have also launched measures to understand and potentially mitigate risks associated with rapid AI development in recent
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