Tag: Australia
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Australia’s Largest Bank Sees ‘Bigger Risks in Not Participating’ in Crypto
The CEO of Australia’s largest bank, Commonwealth Bank of Australia (CBA), sees significant risks in not investing in bitcoin. He explained, “We see risks in participating, but we see bigger risks in not participating.” In an interview with Bloomberg Television in Sydney on Thursday, Commonwealth Bank of Australia CEO Matt Comyn discussed the fear of missing out (FOMO) when it comes to bitcoin and cryptocurrency. The Commonwealth Bank of Australia, or Commbank, is an Australian international bank with operations in New Zealand, Asia, the United States, and…
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Australia’s Bitcoin Regulation Bill Gets the Green Light
Australian authorities are making progress with revisions to the AML/CTF bill which will include bitcoin exchanges under the scope of Australian legislation for the first time. The Australian Parliament published [PDF] newly updated provisions today, part of a wider reform of the government’s anti-money laundering and counter-terrorism financing (AML/CTF) laws. In it, the Senate Legal…
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Aussie Solar Startup Power Ledger, Energy Giant Origin Begin Blockchain Trial
Australian solar startup Power Ledger has partnered with retail energy giant Origin to begin a trial based on Power Ledger’s blockchain-based peer-to-peer energy marketplace. Power Ledger–the first Australian startup to launch an initial coin offering (ICO)–raised $17 million AUD ($13.4 million USD) during its presale and expects to surpass $30 million by the end of…
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Australian Govt: ‘Blockchain Will Support Innovation and Productivity Right Across the Economy’
In a published paper to discuss the country’s digital strategy, the Australian government has picked blockchain technology, among others, as a transformational innovation toward enabling and supporting the digital economy and infrastructure of the future. Earlier this week, the Australian Government announced an ambitious Digital Economy initiative via the Department of Industry, Innovation and Science. The national…
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Australia Is Heading Towards Legalizing Bitcoin
Australian senators from different political parties have called on the Australian central bank to consider formally legalizing Bitcoin. According to The Sydney Morning Herald, Labor Senator Sam Dastyari and Liberal Senator Jane Hume have joined forces to ask the central bank to: “Embrace Bitcoins as an official form of currency or risk the future competitiveness of Australia’s…
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Australian Senators Call On the Reserve Bank to Back Bitcoin
Senators in Australia are putting their political differences aside and are banding together to urge the Reserve Bank to back bitcoin as an official currency. According to Labor senator Sam Dastyari and Liberal senator Jane Hume if the Reserve Bank of Australia doesn’t embrace the digital currency it could risk Australia’s future competitiveness, according to The…