ASIC enters fintech partnership with Singapore
ASIC has signed an Innovation Functions Co-operation Agreement with the Monetary Authority of Singapore (MAS) aimed at “helping innovative businesses in Singapore and Australia in their foray to the respective markets”. The agreement will enable fintech businesses in Australia and Singapore to “establish initial discussions in each other’s market faster and receive advice on required licences, thus helping to reduce regulatory uncertainty and time to market”, a statement by ASIC said. To qualify for the support offered under the agreement, businesses need to meet the eligibility criteria of their ‘home’ regulator, the statement said. “Once referred by the regulator, and ahead of applying for a licence to operate in the […]
Bitcoin hits two-year high
The price of the digital currency bitcoin hit a two-year high yesterday, trading above $US700 for the first time since 2014, after it jumped 21 per cent over the weekend. The surge came days before an unusual event called the “halving”, an adjustment to bitcoin’s protocol designed to control the creation of new coins. The last time the currency traded at this level — as high as $US719 yesterday, according to data provider CoinDesk — was February 2014, when it was coming down from its December 2013 high of $US1147. Bitcoin, launched in 2009, is a digital currency that runs on a decentralised network of computers and isn’t backed or […]
