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Australia
Crypto / Digital Assets
Three Crypto Firms Enter Into Liquidation in Australia
By Editors | 16/04/2024
A$55mn worth of assets belonging to a crypto fund operator have been frozen by court order, after investors became concerned about the fund’s management.
Enforcement
ASIC Commences Proceedings Against Blockchain Mining Companies
By Editors | 16/04/2024
The companies, without an AFS licence, encouraged investors to set up self-managed superannuation funds to then invest in blockchain mining packages and crypto.
AML / KYC
Australia: New ID Register Blocks 300,000 Fraud Attempts
By Nithya Subramanian | 15/04/2024
Following the Optus breach, a new register was set up to prevent compromised personal credentials from being used as forms of identity.
Crypto / Digital Assets
NZ Official Hints at Future Crypto Regulatory Framework
By Sanday Chongo Kabange | 15/04/2024
Andrew Bayly acknowledged the risk of regulatory arbitrage “if New Zealand does not keep in step with” major digital asset regulatory developments.
APRA Issues Updated EFS Reporting Standards
By Sanday Chongo Kabange | 12/04/2024
The updated reporting standards and guidance will apply to reporting periods ending on or after 30 June 2024.
Crypto / Digital Assets
Consumers Value Privacy Over Safety When Considering a CBDC: RBA
By Editors | 12/04/2024
Consumers attach no value to the added safety of a CBDC, or the fact that it would be issued by the RBA, as bank deposits are already considered safe.
ASIC Proposes Updates to Guidance for Insolvency Practitioners
By Sanday Chongo Kabange | 12/04/2024
The proposed updates will provide improved guidance on reporting requirements and reduce “unnecessary effort and expense”, ASIC said.
Market Infrastructure
Australia Unveils Plans to Strengthen Rules for Mergers
By Sanday Chongo Kabange | 12/04/2024
The reforms are expected to come into force on 1 January 2026, introducing a mandatory notification requirement for deals above certain thresholds.
Crypto / Digital Assets
ASIC Appeals Court Ruling in ‘Finder Earn’ Crypto Case
By Sanday Chongo Kabange | 11/04/2024
ASIC filed an appeal due to concerns that the Finder Earn product was offered without the appropriate licence or authorisation.
Enforcement
Australian Court Rules on Sanctions Law Breach by Coal Miner
By Editors | 10/04/2024
A Federal Court Justice has ruled that ASX-listed coal miner Tigers Realm Coal breached Australia’s sanctions law.
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