Australia's Treasury has initiated a public consultation to gather feedback on implementing the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF). This effort aims to bolster tax transparency and counter global tax evasion as cryptocurrency adoption grows. The consultation, launched on Nov. 21, invites input on two potential approaches: directly integrating the…
Bitcoin prices are hovering near $70,000, bouncing from a critical dynamic support line, evident in the daily chart. Even though bulls have yet to breach $72,000 and break above March 2024 highs, traders are optimistic about what lies ahead. Bitcoin Bulls In Charge: Analyst Targets $85,000 Taking to X, one analyst believes the world’s most…
The latest Independent Reserve Cryptocurrency Index (IRCI) for Australia, released this week, sheds light on the evolving landscape of cryptocurrency attitudes and behaviors among Australians. The fifth edition of the survey, conducted annually, provides key insights into awareness, adoption, trust, and confidence in the cryptocurrency market. Now in its fifth year, the Independent Reserve Cryptocurrency…
In a recent investigation by The Guardian, alarming details have emerged regarding a crypto project, HyperVerse, that allegedly lost $1.3 billion of investors’ funds. The report reveals that the chief executive officer promoted by the project, supposedly backed by celebrity endorsements including Chuck Norris, appears to be absent. Investigation Exposes HyperVerse Crypto Scam HyperVerse, promoted…
Due to concerns over the risk of scams, Australia’s largest bank, Commonwealth Banks (CBA), has recently announced the temporary delay of certain payments associated with crypto exchanges. This decision arose after the United States Securities Regulator (SEC) sued two major global exchanges, Coinbase and Binance. This comes just a few weeks after another major Australian…
The crypto world has had its fair share of drama as the bear market bites down on the entire landscape. In addition, global inflation has also caused most companies to resize their organizational structure. Crypto businesses are now planning for effective cost-management strategies to prevent a collapse. However, the fear in the market for most…
Jane Hume, an Australian politician, spoke about Decentralized Finance (DeFi) on Monday at the Australian Financial Review Super & Wealth Summit in Sydney. In her speech, she referenced the Reserve Bank of Australia (RBA) calling crypto a fad. And she emphasized that it most certainly is not. She further urged policymakers to cautiously embrace blockchain technology like…
Bitcoin and other cryptocurrencies are increasingly making appearances in the world of sports. The latest team to enter the cryptocurrency world is Australian Baseball League club Perth Heat. On Wednesday, the club announced that it integrated crypto payments into its operations. The Heat said they had partnered with OpenNode to accept and send Bitcoin payments powered…
As the crypto industry continues to dominate, financial regulators fear criminals will turn to the industry for their illicit activities. This year 2021, has been hot for the crypto industry in terms of regulation. Many financial watchdogs in the USA and other countries pushed harder to regulate the sector. Some top exchanges, including Binance, saw…
Crypto experts have said that Australia’s finance industry is set to be dominated by cryptocurrency by 2029. Finder’s annual cryptocurrency report shows that crypto is set to replace the traditional finance industry in Australia. The Finder’s report brought to light some interesting facts about cryptocurrency adoption in the country. These, experts say, put it on…