AUSTRALIA

Fintech / Regtech

ISDA Extends Digital Regulatory Reporting Initiative

By Editors | 17/04/2024

The initiative is being extended to cover new derivatives reporting rules in the UK, Australia and Singapore.

Crypto / Digital Assets

RBNZ Consults on Design Options for ‘Digital Cash’

By Sanday Chongo Kabange | 17/04/2024

The RBNZ is seeking feedback on its judgments and design options for digital cash, which would be designed as a general-purpose CBDC.

AML / KYC

Australian Senator Calls on AUSTRAC to Investigate TikTok

By Nithya Subramanian | 17/04/2024

TikTok’s platform was allegedly used to transfer money to accounts suspected of being linked to terrorist groups.

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.