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November 2023

Ripple partners with Onafriq for African cross-border payment channels

The partnership aims to reduce the high costs and lengthy transfer times associated with traditional remittance payments.

October 2023

Dubai’s crypto boom, Australia’s rules & Binance’s battles

Web3 leaders gather in the Future Blockchain Summit in Dubai and we take a deep dive on the woes of crypto’s largest exchange, Binance.

Australian Treasury to release crypto draft legislation by 2024 

The Australian Department of the Treasury said it will accept feedback on the draft bill by December.

August 2023

Singapore’s Stablecoin framework, Australia’s crypto landscape & Binance shuts ‘Connect’

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

BTC Markets CEO sees silver lining in Australian banks’ crypto clampdown

Australian banks are heightening scrutiny on digital asset exchanges and restricting crypto payments due to rising scams and frauds. Caroline Bowler, CEO of BTC Markets highlights the challenges and opportunities faced by the industry in the country.

July 2023

National Australia Bank to block some crypto exchanges

NAB, one of Australia’s “big four” banks, announced it is taking action to block some payments to “high-risk” cryptocurrency exchanges, as part of its new measures aimed at protecting customers from scams.

Australian regulator searches Binance’s local offices: Bloomberg

Australian Securities and Investments Commission (ASIC), the country’s financial services regulator, searched the local offices of Binance on Tuesday as part of an ongoing investigation of the exchange’s derivatives business, a Bloomberg report said.

June 2023

Independent Reserve plans Hong Kong office, explores further Southeast Asia expansions

Independent Reserve may have a new Hong Kong office in the “next few months,” the Singapore chief of the Australian crypto exchange said in an exclusive interview. Focusing on institutional clientele, the exchange aims to double trade volumes and expand its user base this year.

May 2023

Binance suspends Australian dollar services

World’s largest cryptocurrency exchange halts Australian dollar services after payment provider cuts off service.

April 2023

ASIC cancels Binance Australia’s derivatives license

The Australian securities regulator has canceled Binance Australia’s derivatives license.

March 2023

Australia’s central bank identifies CBDC use cases as it prepares pilot launch

Australia has outlined potential use cases and providers for a central bank digital currency (CBDC), with a pilot program to be launched in the coming months.

February 2023

Crypto Regulation Race

2023 could be the defining year for crypto regulation – but who’s leading the race to regulation and what’s the best way about it?

January 2023

National Australia Bank to launch AUDN stablecoin: report

National Australia Bank, one of the four major banks in the country, has created a stablecoin AUDN for cross-border transactions and carbon credit trading, according to an Australian Financial Review report. 

December 2022

Australian crypto exchange Swyftx cuts 40% of jobs amid fallout from FTX collapse

Australian cryptocurrency exchange Swyftx cut 90 staff members — or 40% of its workforce — to prepare for a “worst-case scenario” in the market from the collapse of FTX.com.

It’s time for more institutions to adopt blockchain and crypto: Opinion

Despite the myriad benefits of blockchain and cryptocurrency, institutional interest remains mixed in Asia Pacific. What lessons should the industry learn from 2022 to overcome the barriers to adoption?
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November 2022

Australian fintech firm launches new AUD stablecoin, AUDE

Australian blockchain fintech startup Ettle Pty Ltd. has completed the first transaction on its recently launched Australian dollar-pegged stablecoin, AUDE.

Australia to revamp cryptocurrency rules after FTX collapse

The country is one of the first to say it will act to set up regulations to prevent a collapse similar to FTX, which filed for bankruptcy protection and froze the assets of hundreds of thousands of investors.

October 2022

Australian 2022 budget confirms digital assets will not be taxed as foreign currency

The Australian Government has clarified that cryptocurrency will continue to be taxed as an asset class instead of a foreign currency in its 2022 budget released on Tuesday.

Aussie laundered stolen retirement funds via Hong Kong using crypto, diamonds

A woman in Melbourne, Australia pleaded guilty on Wednesday to her role in stealing millions of dollars from superannuation (retirement) funds and stock portfolios before laundering the proceeds via Hong Kong through the purchase of cryptocurrency and diamonds, as reported by The Age newspaper. See related article: Australian superannuation and institutions await clarity to invest […]

September 2022

Australia gears up for state-backed digital currency trials

Top blockchain and crypto news: Digital dollar didgeridoos. Bitcoin softens as sterling sinks. ‘World’s dumbest’ crypto criminals nabbed in China.

Australia Senator says China’s CBDC may threaten national security

Amid the worsening relationship with China, one Australian Senator is trying to address possible national security concerns that may arise from Beijing’s Central Bank Digital Currency project.

Australia establishes federal crypto police unit

The Australian Federal Police (AFP) have set up a crypto crime unit that will trace and seize illicit cryptocurrency linked to money laundering and other criminal activity, the Australian Financial Review (AFR) reported Monday. See related article: Ukraine National Police takes down crypto fraud cybercrime group Fast facts Launched in August, the unit will help […]

August 2022

Crypto.com refunded user US$7 million instead of US$68 – took 7 months to realize

Singapore-based cryptocurrency exchange Crypto.com in May 2021 transferred AU$10.4 million (US$7.15 million) to an Australian woman instead of an intended refund of AU$100 (US$68), and took seven months to recognize the mistake, the Herald Sun newspaper reported. See related article: Bitcoin sent by mistake, recipient will not be punished for keeping it: South Korea ruling […]

Binance Australia strengthens user protection: report

Binance Australia is tightening its sign-up process for new users, as part of renewed efforts to protect users considered most vulnerable to scams and cyber attacks, according to a report by Binance Australia. See related article: Binance to suspend ETH deposits, withdrawals during “The Merge” Fast facts According to the report, the company’s research and […]

Tornado Cash storm; Australia plans crypto rules

The Tornado Cash bans have stirred the pot in the crypto markets. Meanwhile, Australia looks for new ways to regulate crypto.

Australia’s crypto industry split on Treasury’s ‘token mapping’ scheme

The Treasury Department says its plan for how to regulate cryptocurrencies is unlike anything else in the world, but the country’s crypto industry isn’t sure that’s a good thing.

Australia to keep pace with crypto laws with “token mapping”

The Australian Treasury under the ruling Albanese Government will prioritize “token mapping” in 2022 to help regulations Down Under keep pace and adapt with the crypto sector.  See related article: Singapore’s MAS to further strengthen crypto regulations Fast facts “Token mapping”, the primary step in the government’s reform agenda, intends to identify the appropriate direction […]

Australians can now use crypto to buy gasoline, Krispy Kreme donuts

Australian consumers can use cryptocurrency to pay for gasoline and other goods — including Krispy Kreme donuts — at 175 OTR service stations through a partnership with Crypto.com and payment terminal provider DataMesh Group Pty Ltd. See related article: Crypto.com inks AU$27M deal with the Australian Football League Fast facts The service stations allow Crypto.com […]

Australian superannuation and institutions await clarity to invest in crypto

There’s growing interest from Australian self-managed super [retirement] funds (SMSF) to invest in crypto but are being let down by a lack of regulatory clarity, Caroline Bowler, chief executive officer of Australian exchange BTC Markets said at an industry panel on Wednesday. See related article: Australia’s Holon Global got ahead of BlackRock with funds shrugging […]

Crypto’s Institutional Boost

Crypto’s institutional boost is on the rise, meanwhile, Australia is proving to attract the crypto sector.

June 2022

Australia’s ANZ stablecoin used to purchase carbon credits

The Victor Smorgon Group has used ANZ Banking Group’s Australian dollar-pegged stablecoin, A$DC, to purchase tokenized carbon credits in a transaction facilitated by crypto asset investment firm ZeroCap. See related article: Australian crypto industry watches as sole trader charges two top banks with ‘debanking’ Fast facts The carbon credits were tokenized to create digital security […]

BTC Markets first crypto firm to win Australian Financial Service License

Australian cryptocurrency exchange BTC Markets announced on Tuesday it has become the first crypto firm to receive an Australian Financial Service License (AFSL) from the Australian Securities and Investments Commission (ASIC). See related article: What does the new Australian Labor government mean for the crypto industry? Fast facts BTC Markets says the license will enable […]

Canada’s 3iQ launches Bitcoin and Ethereum feeder ETFs in Australia

Following Australia’s recent approvals of crypto-based exchange-traded funds (ETFs), Canada’s 3iQ Digital Asset Management launched two crypto feeder ETFs on the Cboe Australia Exchange on Tuesday. See related article: Canada’s 3iQ could be first to launch Australian crypto ETF Fast facts The two feeder funds, one in Bitcoin and another in Ether, track the asset’s […]

Bitcoin payments for local taxes in the works, Gold Coast mayor says

The mayor of Australia’s Gold Coast, Tom Tate, has suggested that city residents could be paying council rates, or local property tax, in Bitcoin. See related article: Aussie watchdog obtains cold wallet holding US$20M in Bitcoin involved with alleged scam Fast facts “It sends a signal that we’re innovative and bring in the younger generation,” […]

May 2022

Bitcoin hashrate falls; Australia’s crypto future

Bitcoin’s hashrate has dropped since the crypto market crash. Meanwhile, Australia’s new Labor government could bring about changes for the crypto sector.

What does the new Australian Labor government mean for the crypto industry?

Changes in government don’t come about too often in Australia, so there’s always plenty to unpack when it does, including what’s in store for investors in the world of cryptocurrency.

G7 calls for regulation; Bored Ape transfer blocked

South Korean LUNA investors file lawsuit against Terra. Meanwhile, Singapore’s High Court blocks sale of a Bored Ape NFT.

Australia’s Commonwealth Bank slams brakes on crypto services

The Commonwealth Bank of Australia (CBA) has paused the launch of crypto trading on its app amid heightened volatility in the crypto market, The Guardian reported.    See related article: Commonwealth Bank first in Australia to offer crypto trading Fast facts Australia’s largest bank announced its plans to allow customers to trade up to 10 cryptocurrencies, […]

Australia’s taxman starts knocking on cryptocurrency investors’ doors

The Australian Taxation Office (ATO) warned the country’s cryptocurrency investors to appropriately report any capital gains or losses from digital assets — including non-fungible tokens (NFTs) — in an announcement on Sunday ahead of the upcoming tax season, starting July 1. See related article: Australian Tax Office warns: taxpayers on the hook for crypto tax […]

Can ETFs in Australia do for Bitcoin what they did for gold trading?

After the launch of three cryptocurrency exchange-traded funds on Thursday, Forkast spoke with company officials behind two of the funds, along with others in the industry, to see what the new investment platforms offer to investors.

Terra’s LUNA sacrifice; Australian crypto ETFs launch

Terra’s sacrifice of LUNA pushes the UST up to US$0.84. Meanwhile, South Korea plans the institutionalization of crypto.

Australia’s first Bitcoin and Ethereum spot ETFs go live

Australia’s first three cryptocurrency exchange-traded funds (ETF) launched on the Cboe exchange on Thursday, bringing Bitcoin and Ethereum products to the stock market. See related article: Launch of three crypto ETFs in Australia delayed Fast facts One of the funds, the Cosmos Purpose Bitcoin Access ETF (CBTC) from Cosmos Asset Management, tracks the Purpose Bitcoin […]

Three Australian crypto ETFs to debut on Thursday after delays

Australia’s first cryptocurrency exchange-traded funds (ETFs) are set to go live on Thursday May 12 on the country’s Cboe exchange after delays kept the financial products off the market for two weeks. See related article: Launch of three crypto ETFs in Australia delayed Fast facts Three funds were initially announced for listing in late April […]

Wildlife conservatory Australia Zoo announces NFT project with Algorand

Australia Zoo, a wildlife conservatory related to the family of noted conservationist Steve Irwin, has announced a non-fungible token (NFT) series on the green blockchain Algorand to celebrate the 20th anniversary of its Wildlife Warriors conservation project.  See related article: Algorand becomes 2022 Qatar World Cup’s new blockchain partner Fast facts Created in partnership with […]

Canada’s 3iQ could be first to launch Australian crypto ETF

Last-minute delays to three Australian cryptocurrency exchange-traded funds (ETFs) could allow Toronto-based 3iQ Digital Asset Management to launch the first of such products in the country, the Australian Financial Review reported. See related article: Launch of three crypto ETFs in Australia delayed Fast facts The Canadian firm lodged disclosure documents with the Australian Securities and […]

BTC Markets partners with Australian Fashion Week for couture NFT

Australian crypto exchange BTC Markets Pty Ltd has partnered with the 2022 Australian Fashion Week (AFW) in launching a couture dress as a non-fungible token (NFT) in collaboration with local designer Daniel Avakian. See related articles: How high fashion is waking up to blockchain’s possibilities Fast facts The dress will be displayed physically during the […]

April 2022

DOGE jumps on Twitter deal; Australian crypto ETFs delay

Dogecoin skyrockets as Elon Musk’s Twitter deal finalizes. Meanwhile, a Korean music platform registers NFTs patent.

Launch of three crypto ETFs in Australia delayed

After being on track to beat the US to the launch of a Bitcoin spot ETF, the delay is likely to undermine Australia’s desire to emerge as a top destination for digital assets in the developed world.

A fast one from down under: Australia approves BTC, ETH ETFs

While the cryptocurrency industry continues to wait with bated breath for a spot-traded Bitcoin exchange-traded fund (ETF) to be approved in the U.S., three separate crypto funds were given the green light in Australia this week.  Australia’s ETFS Management (AUS) Ltd., or ETF Securities, launched a Bitcoin and an Ethereum fund, in partnership with Switzerland-based […]

Australia to list crypto spot ETFs; WazirX founders leave India

Bitcoin and Ethereum ETFs are coming to Australia. Meanwhile, Dogecoin Day has fans hyped.

Bitcoin and Ethereum spot ETFs landing in Australia next week

Australia’s mass retail appetite for cryptocurrency is about to be tested as two Bitcoin and one Ethereum spot exchange-traded funds (ETFs) have been approved for listing. See related article: New Australian ETF grants exposure to Bitcoin mining sector Fast facts All three ETFs are set to go live on Cboe (formally Chi-X) Exchange on April […]

March 2022

UAE becoming crypto hub; India’s tax bogeyman

The UAE is becoming the new crypto hub of the world. Meanwhile in India, high crypto taxes are scaring away young investors.

Mastercard partners with Australia’s BTC Markets for payment options

Australian crypto exchange BTC Markets has partnered with Mastercard to allow its customers to make direct debit, prepaid or credit card payments to purchase cryptocurrencies from the platform. See related article: Mastercard partners with Australian exchange for crypto card Fast facts The move is part of a broader trend by payments giants like Mastercard and […]

ASX blockchain upgrade delayed for fourth time

The Australian Securities Exchange (ASX) has announced its highly anticipated AU$250 million (US$187 million) blockchain project has been delayed for release until late 2023 at the earliest. See related article: Australian Securities Exchange to launch crypto-related ETF Fast facts CHESS, or Clearing House Electronic Subregister System, was initially slated for a blockchain upgrade by April […]

How to protect NFT intellectual property rights explored at Australian Blockchain Week

With explosive growth in the past 12 months, the non-fungible token industry is getting too big to ignore IP licenses, experts say.

Fusang defers IPO; Yuga Labs hits $4bn valuation

Malaysia’s Fusang defers their IPO. Meanwhile, Blockchain Week Australia looks into intellectual property rights.

‘We may create another kind of elite,’ Animoca chairman warns

Blockchain gaming unicorn Animoca Brands co-founder and executive chairman Yat Siu said Web 3.0 needs rapid adoption in order to become more decentralized at Australia Blockchain Week in Melbourne on Wednesday. See related article: FTX heads Down Under as Australia looks to crypto industry Fast facts “If people don’t move into the space quickly enough, […]

India’s crypto GST plan; Australia’s crypto reforms

South Korea prepares for the imposition of FATF travel rule heat up. Meanwhile in Australia, reforms are set to be introduced for the crypto sector.

FTX heads Down Under as Australia looks to crypto industry

Bahamas-based crypto exchange FTX announced the establishment of an Australian branch on Monday Asia time as part of the company’s global expansion plans. See related article: New crypto regulation — including tax reform — coming to Australia Fast facts FTX Australia will be headquartered in the nation’s financial capital Sydney and will be fully licensed […]

Australia may regulate DAOs under senator’s proposed act

Australian senator Andrew Bragg called for “urgent” regulation of decentralized autonomous organizations (DAOs) under the nation’s Corporations Act as part of his Digital Services Act proposal at Blockchain Week Australia on Monday.  See related article: ​​New crypto regulation — including tax reform — coming to Australia Fast facts DAOs can replace companies and are therefore […]

New crypto regulation — including tax reform — coming to Australia

Sweeping reforms are coming to Australia’s crypto sector, including a new tax system, additional protections for investors, and regulation for crypto exchanges and brokers. See related article: Australia on track for a crypto boom by 2030, EY report says Fast facts The Australian government will release documents relating to the regulation on Monday as it […]

Renewables uptake: Bitcoin the problem or solution?

There is more to transitioning to renewable energy than one might expect, and in Australia, one Bitcoin mining company says the industry can play a role.

At least 3M Aussies own some form of crypto asset

Australia estimates at least three million Aussies, or 11% of its people, own some form of crypto asset, according to a government-backed report published on Wednesday. See related article: Australia announces biggest overhaul to payments in 25 years — eyes now set on crypto Fast facts Crypto has been on Australia’s radar, with the Senate […]

February 2022

Ukraine’s crypto demand soars; Russian sanctions tighten

Trading volume on Ukrainian crypto exchanges triples as Russia continues its attack on Ukraine. Meanwhile, there is still no sign of Russia using crypto to evade sanctions yet,

Here’s why Australia can’t use its empty deserts to mine Bitcoin

Sunny skies and wide open spaces may seem the perfect place to mine Bitcoin using cheap solar power, but one industry insider tells Forkast there’s much more to it than that.

Australia’s NRL latest sporting league to ink crypto sponsorship

Australia’s National Rugby League (NRL) has announced Brisbane-based crypto exchange Swyftx will be the league’s first official crypto sponsor until 2025, with a one-year extension option. See related article: Crypto.com inks AU$27M deal with the Australian Football League Fast facts For an undisclosed amount, Swyftx will support all NRL and NRLW games and finals, as […]

Aussie mining billionaire files suit against Meta over crypto ads

Australian resources mining billionaire Andrew “Twiggy” Forrest is taking Meta (formerly Facebook) to court alleging the social media giant breached local money-laundering laws by failing to prevent false cryptocurrency advertisements on its platform. Fast facts In legal proceedings lodged in the Western Australia Magistrates Court, Forrest alleges Meta “failed to create controls or a corporate […]

Australian Aboriginal sovereign CBDC up and running

In a first for the country, the Sovereign Yidindji Government in Australia has issued a CBDC with its first transaction occurring this week.

January 2022

Territory in northeastern Australia launches own CBDC

The Sovereign Yidindji Government (SYG) in northeastern Australia has released a central bank digital currency (CBDC) and a digital ID system on blockchain wallet network MetaMUI. Fast facts The Aboriginal people of Yidindji have lived in the territory for over 60,000 years and in 2014 established the SYG. The SYG and the Australian government, including […]

Crypto.com inks AU$27M deal with the Australian Football League

Singapore-based exchange Crypto.com has struck a five-year AU$27 million (US$19.5) sponsorship with the Australian Football League’s (AFL) men’s and women’s (AFLW) competitions on Tuesday. Fast facts The deal is the first sponsorship from a crypto firm in Australia for a major sporting league, and the first major women’s sporting league sponsorship for Crypto.com. Australian rules football […]

Australian Open enters metaverse; Chinese university goes virtual

Australian Opens just opened in the metaverse and a Chinese university launches a virtual campus.

The Australian Open launches on the metaverse, attracting digital fans

In the latest sign of growing blockchain adoption, the tennis tournament expands to the metaverse, offering rewards and participation through NFTs.