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ASIC Clarifies Crypto Rules; Stablecoins, Tokenised Assets Flagged as Financial Products
Australia’s financial regulator, ASIC, has issued long-awaited guidance clarifying which crypto assets fall under financial products. The move provides legal certainty for firms but raises concerns about the regulator’s capacity to handle new licensing demands. Under the revised framework, stablecoins, wrapped tokens, and tokenised securities w...
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Australia’s ASIC Grants Exemptions to Stablecoin Intermediaries
The Australian Securities and Investments Commission (ASIC) has introduced class relief that exempts intermediaries from needing separate licences to distribute stablecoins issued by licensed providers. The initiative is intended to lower compliance hurdles and encourage growth in the digital assets sector. At the same time, ASIC emphasised that is...
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Australia Proposes Regulations for Crypto Exchanges, Custody Services, Brokerage Firms: Details
The Australian Treasury has proposed rules to regulate digital asset platforms (DAPs), including exchanges, custodians, and brokerages. The government plans to implement the reforms this year, according to the Treasury.
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After Kraken, Binance Sued by ASIC in Australia: Here’s Why
The ASIC has filed a lawsuit in federal court, accusing Binance's local subsidiary of misclassifying 505 retail investors as wholesale investors. As a result, the exchange is alleged to have failed to provide the necessary consumer protection for these retail investors.
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Kraken Fined in Australia for Legal Violations Resulting in Financial Losses to Citizens
Australia has fined US-based crypto exchange Kraken $5.1 million (roughly Rs. 43 crores or AUD 8 million). The ASIC criticised Bit Trade, which operates Kraken locally, for improper marketing that led to financial losses for Australian citizens.
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From Sneakers That Prioritise Comfort For Everyday Wear To Jackets That Will Help You Layer Up In Style; 10 Fashion Launches That Are November's Top Picks
The new launches for November 2024 serve all the fashion offerings in a nutshell
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New AI Chip "Will Revolutionise ChatGPT", Claims Startup Founded By Harvard Dropouts
'Sohu' claims to be 20 times faster in running transformers like ChatGPT than Nvidia's flagship- H100s, betting on transformer ASIC (Application Specific Integrated Circuits) chipset.
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FTX License Cancelled by Australia Securities Regulator Effective From July 14
Australian Securities & Investments Commission (ASIC) said on Wednesday it had cancelled the license of the local arm of collapsed U.S. cryptocurrency exchange FTX, effective from July 14.
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Bitcoin Mining Chip From Twitter Co-Founder Jack Dorsey Enters Prototype Stage: Details
Jack Dorsey is looking to introduce an application-specific integrated circuit (ASIC) to facilitate Bitcoin mining. This Bitcoin mining chip will be accessible by individual miners as well as new BTC mining firms, taking this facility out from the hands of a bunch of established Bitcoin mining firms.
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Intel Discontinues Production of Bitcoin Mining Chip Series After Crypto Market Rout
Intel on Tuesday announced it has discontinued production of its bitcoin mining chip series. The company has stopped making its Intel Blockscale 1000 Series ASIC, just a year after it was introduced, but says it will continue to support customers.
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Binance to Close Australian Derivatives Business Amid Financial Services Licence Cancellation
Binance will close its Australian derivatives business after relinquishing a financial services licence on Thursday amid a regulatory probe into its operations. The Australian Securities and Investment Commission (ASIC) has been conducting a "targeted review" of Binance, first confirmed in February, when Binance said it had misclassified some retai...
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Australia's Corporate Watchdog Suspends FTX Australia's Financial Services License
The Australian Securities & Investments Commission (ASIC) announced late Tuesday that it had suspended the Australian financial services license of FTX Australia until May 15, 2023. The agency had previously placed the local FTX affiliate in voluntary administration on November 11.
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Australia Enables Auto Take-Down of Scam Crypto Sites, UK’s Netcraft to Give Countermeasure Service
The Australian Competition and Consumer Commission (ACCC) is tightening its noose around crypto scam websites, that are posing major financial risk to innocent investors. The body is also looking to educate people on the different ways that scammers could steal digital assets from their pockets. The new trial also sees the Australian Securities and...
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Facebook Parent Meta to Use Broadcom Chips for Metaverse Hardware in a Billion-Dollar Deal: Report
Facebook parent Meta will become Broadcom next billion-dollar ASIC customer as the company plans to use custom chips to build its metaverse hardware, suggested a report. ASIC (application-specific integrated circuit) chips will drive $2 billion to $2.5 billion in revenue for Broadcom this year, helped by its deals with Meta and partnerships with Al...
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Planning To Run A Marathon? You'll Need These Tips And Tricks For Your Big Run
Learn the benefits of running regularly and gear up for your next big run with these tips
-
ASIC Clarifies Crypto Rules; Stablecoins, Tokenised Assets Flagged as Financial Products
Australia’s financial regulator, ASIC, has issued long-awaited guidance clarifying which crypto assets fall under financial products. The move provides legal certainty for firms but raises concerns about the regulator’s capacity to handle new licensing demands. Under the revised framework, stablecoins, wrapped tokens, and tokenised securities w...
-
Australia’s ASIC Grants Exemptions to Stablecoin Intermediaries
The Australian Securities and Investments Commission (ASIC) has introduced class relief that exempts intermediaries from needing separate licences to distribute stablecoins issued by licensed providers. The initiative is intended to lower compliance hurdles and encourage growth in the digital assets sector. At the same time, ASIC emphasised that is...
-
Australia Proposes Regulations for Crypto Exchanges, Custody Services, Brokerage Firms: Details
The Australian Treasury has proposed rules to regulate digital asset platforms (DAPs), including exchanges, custodians, and brokerages. The government plans to implement the reforms this year, according to the Treasury.
-
After Kraken, Binance Sued by ASIC in Australia: Here’s Why
The ASIC has filed a lawsuit in federal court, accusing Binance's local subsidiary of misclassifying 505 retail investors as wholesale investors. As a result, the exchange is alleged to have failed to provide the necessary consumer protection for these retail investors.
-
Kraken Fined in Australia for Legal Violations Resulting in Financial Losses to Citizens
Australia has fined US-based crypto exchange Kraken $5.1 million (roughly Rs. 43 crores or AUD 8 million). The ASIC criticised Bit Trade, which operates Kraken locally, for improper marketing that led to financial losses for Australian citizens.
-
From Sneakers That Prioritise Comfort For Everyday Wear To Jackets That Will Help You Layer Up In Style; 10 Fashion Launches That Are November's Top Picks
The new launches for November 2024 serve all the fashion offerings in a nutshell
-
New AI Chip "Will Revolutionise ChatGPT", Claims Startup Founded By Harvard Dropouts
'Sohu' claims to be 20 times faster in running transformers like ChatGPT than Nvidia's flagship- H100s, betting on transformer ASIC (Application Specific Integrated Circuits) chipset.
-
FTX License Cancelled by Australia Securities Regulator Effective From July 14
Australian Securities & Investments Commission (ASIC) said on Wednesday it had cancelled the license of the local arm of collapsed U.S. cryptocurrency exchange FTX, effective from July 14.
-
Bitcoin Mining Chip From Twitter Co-Founder Jack Dorsey Enters Prototype Stage: Details
Jack Dorsey is looking to introduce an application-specific integrated circuit (ASIC) to facilitate Bitcoin mining. This Bitcoin mining chip will be accessible by individual miners as well as new BTC mining firms, taking this facility out from the hands of a bunch of established Bitcoin mining firms.
-
Intel Discontinues Production of Bitcoin Mining Chip Series After Crypto Market Rout
Intel on Tuesday announced it has discontinued production of its bitcoin mining chip series. The company has stopped making its Intel Blockscale 1000 Series ASIC, just a year after it was introduced, but says it will continue to support customers.
-
Binance to Close Australian Derivatives Business Amid Financial Services Licence Cancellation
Binance will close its Australian derivatives business after relinquishing a financial services licence on Thursday amid a regulatory probe into its operations. The Australian Securities and Investment Commission (ASIC) has been conducting a "targeted review" of Binance, first confirmed in February, when Binance said it had misclassified some retai...
-
Australia's Corporate Watchdog Suspends FTX Australia's Financial Services License
The Australian Securities & Investments Commission (ASIC) announced late Tuesday that it had suspended the Australian financial services license of FTX Australia until May 15, 2023. The agency had previously placed the local FTX affiliate in voluntary administration on November 11.
-
Australia Enables Auto Take-Down of Scam Crypto Sites, UK’s Netcraft to Give Countermeasure Service
The Australian Competition and Consumer Commission (ACCC) is tightening its noose around crypto scam websites, that are posing major financial risk to innocent investors. The body is also looking to educate people on the different ways that scammers could steal digital assets from their pockets. The new trial also sees the Australian Securities and...
-
Facebook Parent Meta to Use Broadcom Chips for Metaverse Hardware in a Billion-Dollar Deal: Report
Facebook parent Meta will become Broadcom next billion-dollar ASIC customer as the company plans to use custom chips to build its metaverse hardware, suggested a report. ASIC (application-specific integrated circuit) chips will drive $2 billion to $2.5 billion in revenue for Broadcom this year, helped by its deals with Meta and partnerships with Al...
-
Planning To Run A Marathon? You'll Need These Tips And Tricks For Your Big Run
Learn the benefits of running regularly and gear up for your next big run with these tips
