cryptocurrency

Apr
09

Soros prepares to trade cryptocurrencies as prices plunge

George Soros called cryptocurrencies a bubble in January. Now his $26 billion ($33 billion) family office is planning to trade digital assets. Adam Fisher, who oversees macro investing at New York-based Soros Fund Management, got internal approval to trade virtual coins in the last few months, though he has yet to make a wager, according […]

By Reposted by Australian FinTech | Bitcoin . FinTech . Investing
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Apr
05

Australia rolls out new AML/CTF laws for digital currency exchange providers

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has announced that digital currency exchange (DCE) providers would be required to meet Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) obligations, effective 3 April 2018. AUSTRAC is Australia’s financial intelligence agency with regulatory responsibility for AML/CTF. “A ‘policy principles’ period of six months will be in place […]

By Reposted by Australian FinTech | Currency . FinTech
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Apr
05

This Australian fintech leader says cryptos won’t replace traditional currencies in ‘another three lifetimes’

The value of bitcoin lies in its use as a finite commodity protected by rock-solid cryptography, rather than a currency used to buy goods and services, according to Loretta Joseph, chair of the Australian Digital Commerce Association (ADCA). Joseph spoke to Business Insider following reports that Australian crypto trading exchanges must now comply with standards […]

By Reposted by Australian FinTech | Bitcoin . Currency . FinTech . Payments
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Aussie cryptocurrency exchange to trial BPAY’s Osko

Cryptocurrency exchange BTC Markets is trialling BPAY’s Osko service as a way to speed up conventional fiat deposits from customers. The company said it would support Osko, which runs as an overlay on Australia’s new payments platform (NPP), which went live in mid-February. The billion-dollar NPP allows banks to send payment messages in real time […]

By Reposted by Australian FinTech | Bitcoin . FinTech . Payments
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Apr
04

Coinspot receives approval to become Australian-based crypto exchange

CoinSpot has announced they have been successful in their application to be registered by AUSTRAC to provide exchange services for crypto. As part of Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) financial operators need to comply with a number of conditions under the Act. While most bitcoin and altcoin exchanges used by […]

By Reposted by Australian FinTech | Bitcoin . FinTech
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Apr
04

First Australian digital currency exchange regulated: Independent Reserve

Independent Reserve, the Australian digital currency exchange, yesterday became the first Australian exchange of its kind to be regulated. Independent Reserve is the first exchange to be regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). Set up in 1989, AUSTRAC ensures Australian institutions conform to the required standards around Counter-Terrorism Financing and Know Your […]

By Australian FinTech | Bitcoin . Currency . FinTech . Investing
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Apr
03

Cryptocurrency owners must be aware of tax changes

Changes to Australia’s anti-money laundering rules have come into effect today, and will see cryptocurrency exchanges and transactions more susceptible to the scrutiny of the Australian Taxation Office (ATO), according to HLB Mann Judd’s Peter Bembrick. Bembrick, tax partner at HLB Mann Judd Sydney, said the rules would catch cryptocurrency owners by surprise, and ignorance […]

By Reposted by Australian FinTech | Bitcoin . Currency . FinTech . Investing
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Mar
30

Australian Tax Agency Seeks Public Input Concerning Cryptocurrency Taxes

The Australian Taxation Office (ATO) has been researching how to formulate regulatory guidelines for taxing cryptocurrencies recently. This week the ATO is seeking input from Australian residents concerning how the country should tax digital assets. Over the past few months, the ATO has been drafting taxation guidelines for cryptocurrencies like bitcoin. The Australian tax agency […]

By Reposted by Australian FinTech | Bitcoin . FinTech
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