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Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, announced a significant strategic realignment, including workforce reductions and geographic market exits. The company will withdraw from operations in the United Kingdom, European Union, and Australia while reducing its workforce by approximately 25%, following previous staff cuts that had already reduced the team to about … Read more
IG Group has finalized its acquisition of Independent Reserve, one of Australia’s leading regulated cryptocurrency exchanges, marking a major expansion into digital assets across the Asia-Pacific and Middle East. Regulatory Approval and Legacy IG Group has officially completed its acquisition of Independent Reserve, one of Australia’s leading cryptocurrency exchanges, marking a significant expansion into digital … Read more
The Australian Federal Court fined BPS Financial $9.7 million for operating its Qoin Wallet without a license and making misleading claims about its functionality. Permanent Ban on Qoin Promotion The Australian Federal Court has ordered digital currency payments provider BPS Financial to pay total pecuniary penalties of $9.7 million (AUD$14 million) following a lengthy legal … Read more
Australian crypto exchange group DAEX has ceased trading and entered voluntary liquidation. The liquidator is now urging creditors to come forward. Liquidation Details The Australian cryptocurrency exchange group DAEX has halted all trading operations and entered voluntary liquidation, leaving investors in a state of uncertainty regarding the recovery of their funds. According to the Daily … Read more
Hundreds of Australians have suffered major losses after a Federal Court ordered the liquidation of NGS Crypto and associated companies for operating without a license. More than 450 investors poured $40.2 million into the scheme, but liquidators have found only $4.6 million in cryptocurrency so far. A Multimillion-Dollar Shortfall Hundreds of Australians who trusted their … Read more
A new Zodia Custody study highlights that stablecoins are functioning as the “quiet plumbing” behind key financial operations in Australia, with adoption driven by practical utility rather than speculation. Key Use Cases and Impact According to a new Zodia Custody study, stablecoins are functioning as the “quiet plumbing” behind payments, treasury operations, trading infrastructure, and … Read more
The Australian Bitcoin Industry Body (ABIB) has formally filed a complaint with the national broadcaster ABC regarding a Dec. 1 article concerning bitcoin. Allegations of Misrepresentation and Bias An Australian lobbying group, the Australian Bitcoin Industry Body (ABIB), has filed a complaint with the national public media service, ABC, over an article containing inaccuracies and … Read more
A dedicated mortgage broking service for cryptocurrency investors has been launched in Australia, aiming to help holders of digital assets translate their crypto wealth into property ownership. Bridging Mortgages and Crypto Strategies A new player has entered the mortgage market with the launch of Mortgage On Chain, Australia’s first broking service dedicated to cryptocurrency investors. … Read more
Australian Federal Police (AFP) Commissioner Krissy Barrett announced that an agency data scientist successfully cracked two password-protected crypto wallets, recovering millions in digital assets linked to organized crime. The Challenge of the Criminal’s Wallet Australian Federal Police (AFP) Commissioner Krissy Barrett revealed on Oct. 29 that one of the agency’s data scientists has successfully cracked … Read more
The Australian financial crime regulator has taken action against crypto ATM operator Cryptolink for its failure to report large cash transactions on time. Crypto ATMs Labeled ‘Highest-Risk’ Channel for Money Laundering The Australian Transaction Reports and Analysis Centre (AUSTRAC) has issued an infringement notice of $56,340 to crypto ATM operator Cryptolink. The regulator also accepted … Read more
