Cryptocurrency Analysis and News Portal
Cybersecurity specialists have welcomed a new trial by the Australian Competition and Consumer Commission (ACCC) to automatically take down scam websites. The trial saw dozens of scam sites, including crypto scams, knocked offline after more than 300 were reported.The ACCC reported that Australians had lost $113 million in cryptocurrency scams last
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Digital currencies focused on consumers and regulated could be better when privately issued rather than by central banks, according to Australian central bank governor. Source
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Australian central bank Governor Phillip Lowe said that a private solution “is going to be better” for cryptocurrency as long as risks are mitigated through regulation.Lowe commented at a recent G20 finance meeting in Indonesia. Reuters reported on July 17 that officials from other countries discussed the impact of stablecoins
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In preparation for a sharp market decline, cryptocurrency exchange Banxa (BNXA) has slashed over 70 workers, according to a Monday article in the Australian Financial Review. According to AFR, the change represents 30% of the workers of the Melbourne-based business. When the cryptocurrency market reached all-time highs last year, the
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The publicly traded crypto exchange said the "crypto winter" drove the decision to reduce headcount by about 30%. Source
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Australian-based cryptocurrency exchange BTC Markets has become the first crypto company in the country to gain a financial services license.The license was issued by the country’s financial regulator, the Australian Securities and Investments Commission (ASIC), to BTC Markets’ sister company BTCM Payments. We have an exciting announcement to make: BTC
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A further two cryptocurrency-backed exchange-traded funds (ETFs) have launched on the Cboe Australia exchange on June 7 bringing the total amount of crypto ETFs available to Australian traders to six.The Canada-based 3iQ Digital Asset Management (3iQ) launched two spot ETFs, the 3iQ CoinShares Bitcoin (BTC) Feeder ETF and the 3iQ
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The Australian tax agency has listed crypto-related profits among several priority areas where more efforts are needed to ensure correct reporting. The authority has reminded taxpayers they need to calculate any capital gain or loss from the sale of digital coins and tokens and record it in their tax returns.
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The Australian Taxation Office (ATO) has published a guideline that sets out warnings for crypto investors on tax obligations around digital assets and NFTs. Source
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The Australian Taxation Office (ATO) has outlined crypto capital gains as one of four key areas of focus in 2022. A capital gain or loss refers to the price difference between the time an asset was purchased and the time it was sold. The percentage owed to the ATO varies
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