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Australia’s Security Regulator Faces Scrutiny Over Failure to Warn Citizens of the HyperVerse Crypto Scheme

5.1.2024
Source: AdobeStock / FiledIMAGE Australia’s Assistant Treasurer Stephen Jones has expressed the intention to look into reasons why the country’s securities regulator failed to warn citizens of the potential danger posed by the HyperVerse crypto scheme. A recent Guardian report says Jones would...

Australian Regulator Says Cryptos ‘Created Out of Nothing,’ Issues Fresh Warning, Report

24.11.2023
Source: Pixabay / Patty Jansen The Australian Securities and Investments Commission (ASIC) is reportedly ramping up its surveillance towards the crypto market introducing fresh warnings. The regulator on Friday issued warning on cryptocurrency investments criticizing the digital tokens as “created...

Australia Government Wants Crypto Exchanges to Possess a Financial Services License

17.10.2023
Australia-based crypto exchanges may soon be required to hold a financial services license issued by the Australian Securities and Investments Commission. The Australian government expects to have the draft legislation ready in 2024. According to the proposals, crypto exchanges will be given...

Regulator Sues Crypto Exchange Kraken Provider in Australia

22.9.2023
Australia’s securities regulator has initiated civil proceedings against Bit Trade Pty Ltd, an entity providing Kraken services to Australian users. According to the government agency, the company failed to comply with regulatory obligations meant to ensure proper consumer protection. Australian...

Australia-Based Crypto Lender Sentenced for False Credit License Claims

21.8.2023
The Australian securities regulator recently revealed that the crypto lending platform Helio pleaded guilty to the allegation of falsely claiming to be a holder of the Australian Credit License (ACL). For admitting to committing the offense, Helio is said to have entered...

Australian Regulator Sues Etoro to ‘Protect Consumers From High-Risk CFD Products’

4.8.2023
The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against the crypto platform Etoro. The lawsuit relates to Etoro’s contract for difference (CFD) product which ASIC alleges to be in breach “of design and distribution obligations and of Etoro’s license...

Securities Commission Cancels FTX Australia’s License

21.7.2023
Australia’s securities regulator has canceled the license of the local FTX entity, allowing it to perform only limited financial services. These will be related to the termination of derivatives with clients and arrangements to compensate retail customers. ASIC Revokes Financial Services License...

Australian Securities Regulator Revokes FTX’s Local Financial Services License

19.7.2023
The Australian Securities and Investments Commission (ASIC) has canceled the financial services license of FTX’s Australian subsidiary effective from July 14, impacting 30,000 customers. With the cancelation of the license, FTX Australia can no longer operate as an exchange in the country....

Binance Feels Strain of World’s Regulators Leaping Into Action

7.7.2023
Australian officials directly sought out current and former employees of Binance’s operation there this week, demanding copies of internal communications and data from their personal devices, according to a person familiar with the government’s move against the leading crypto exchange, which marked...

Binance Australia’s Offices Searched by Financial Regulator: Bloomberg

5.7.2023
The company, also under investigation in the U.S. and France, ceased its Australian derivatives business following regulatory warnings

Binance Halts Deposits and Possibly Withdrawals for Aussie Users After Being Cut Off by Australian Payment Service Provider

19.5.2023
Binance Australia said on May 18 that it is “unable to facilitate PayID AUD deposits for Binance users” due to a third-party payment service provider’s decision to discontinue support for the crypto exchange. Binance Australia said while it works to find an alternative, users...

Australian Government Says It Is Working to Ensure ‘Regulation of Crypto Assets Protects Consumers’

5.2.2023
The Australian government has said it will take steps to ensure the “regulation of crypto assets protects consumers” and one of these steps will be the reforming of “the licensing and custody of crypto assets.” The Anthony Norman Albanese-led government also said it...

Australia bolsters crypto watchdogs in ''multi-stage' plan to fight scams

3.2.2023
The new measures from the Australian government come as cryptocurrency scams skyrocketed 162% to $221 million in 2022

Aussie regulator flagged concerns about FTX months before collapse: Report

30.1.2023
Australia’s financial regulator raised concerns about FTX Australia not long after it began operations in March 2022, according to documents

Block Earner CEO calls for licensing clarity after being sued for crypto products

24.11.2022
Block Earner CEO Charlie Karaboga said it was a “disappointing outcome” given it had spent “considerable resources” to adhere to existing guidelines

Australian Securities Exchange Cancels Blockchain-Based Clearing System at $168M Cost

17.11.2022
The Australian Securities Exchange (ASX) has cancelled its much-delayed blockchain replacement to its aged Clearing House Electronic Subregister System (CHESS)

Australia Suspends Financial Services License of Local FTX Entity

17.11.2022
Australia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May. According to an issued statement, the platform will be allowed to provide limited financial services until Dec. 19 in order to terminate existing derivatives....