ASIC Says Stablecoins and Wrapped Tokens Are Financial Products
Key Insights ASIC now classifies stablecoins, wrapped tokens, tokenised securities and digital asset wallets as financial products, requiring licensing. A…
IG Group to Acquire Australian Crypto Exchange Independent Reserve in $117 Million Deal
Key Insights IG Group will acquire a 70% stake in Independent Reserve, valuing the Australian crypto exchange at A$178 million,…
Australia Grants Licensing Relief for Stablecoin Intermediaries
Key Insights ASIC has granted licensing relief for intermediaries distributing stablecoins issued by licensed entities, easing compliance costs until 2028.…
ASIC Fines ANZ Bank $240 Million for Bond Trading Misconduct
Key Insights ANZ faces Australia’s largest-ever regulatory fine of A$240 million for “unconscionable conduct” in government bond trading and widespread…
Australia’s ASIC Issues Public Warning Against Bitget Over Unlicensed Crypto Futures Products
Key Insights ASIC has warned against Bitget for offering unlicensed crypto futures with leverage up to 125:1, far exceeding legal…
Australia’s AUSTRAC Fines Crypto Exchange Cointree A$75,120 for Delayed Suspicious Transaction Reports
Key Insights AUSTRAC fined Melbourne-based crypto exchange Cointree A$75,120 for failing to submit suspicious matter reports (SMRs) on time, a…
Kraken’s Australian Arm Loses Court Battle, Cites Regulatory Ambiguity
Key Insights Australia’s federal court ruled that Bit Trade, Kraken’s local operator, failed to comply with the Corporations Act by…
ASIC Battles Crypto Fraud: 615 Scam Sites Taken Down
Key Insights Australian regulator ASIC removed 615 cryptocurrency investment scams in the past year. ASIC has taken down over 7,300…
Bitcoin Leads, Memecoins Gain Traction Among Australian Crypto Traders: Kraken
Key Insights Bitcoin remains the most traded cryptocurrency in Australia, accounting for 27.07% of trading volume, slightly higher than the…
Australian ETF Market Soars to $199 Billion, ASX Reports 36% Growth
Key Insights ASX reports 36% growth in ETF funds under management, reaching $199 billion in the fiscal year ending June…