Australia is taking decisive steps toward establishing a clear regulatory framework for the crypto sector, according to the Treasury’s Statement on Developing an Innovative Australian Digital Asset Industry. The Treasury said the move aims to provide greater consumer protection, reduce risk, and bring much-needed clarity to the industry. Regulatory framework Under the proposed framework, certain […]
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The government's plan will direct different parts of the government to research different aspects of digital assets, including tokenization and CBDCs.
The Libertarian Party of Australia has formally unveiled its new Bitcoin Policy Whitepaper, with a centerpiece proposal advocating for the establishment of an Australian Strategic Bitcoin Reserve (SBR). The announcement was made on March 8 during the BitcoinAlive event. The event showcased the Libertarian Party’s vision for integrating Bitcoin into Australia’s financial and regulatory framework. While the party remains relatively small compared to the nation’s two major political contenders, it aims to influence broader debate on crypto policy. This stance places Australia alongside various US states that are working toward legislative recognition of Bitcoin reserves, as well as the US federal government’s announcement last week. Establishing An Australian Strategic Bitcoin Reserve One of the most prominent features of the Whitepaper is the call to create an Australian Strategic Bitcoin Reserve. Referring to Bitcoin’s “decentralized and limited-supply nature,” the Libertarian Party states that: “Bitcoin’s fixed supply of 21 million coins ensures that its scarcity protects against inflation […] This robustness enhances its appeal as a reliable store of value and positions it as an ideal component of Australia’s financial strategy.” Related Reading: Bitcoin Plays Chicken With Central Banks As Dollar Falls, Says Expert The proposal suggests that such a reserve would hedge against inflation, diversify national assets, and “strengthen the nation’s financial resilience.” According to the document, funding would derive from several possible sources, including allocations from Australia’s Future Fund, budget surpluses, and proceeds from government asset sales. Throughout the 23-page White Paper, a repeated theme is that of personal and financial autonomy—concepts foundational to Bitcoin’s decentralized ethos. One recommendation asserts the right to self-custody, arguing that individuals should be able to hold Bitcoin themselves without reliance on central intermediaries. It reads: “The right to self-custody is paramount for achieving true financial sovereignty and privacy in an increasingly digitized economy.” The paper’s authors contend that self-custody protects against “governmental overreach,” referencing past global financial crises that eroded public trust in centralized institutions. Beyond the reserve, the White Paper advocates for comprehensive legal recognition and clearer regulatory standards. It calls for the removal of Capital Gains Tax (CGT) on everyday Bitcoin transactions and outlines a vision in which Australia “positions itself at the forefront of global innovation in financial services.” To that end, the document also proposes: “Treating Bitcoin as a legitimate and viable alternative to traditional financial systems, promoting financial autonomy and inclusivity.” Related Reading: This Bitcoin Signal Aligns With Price Tops, CryptoQuant Analyst Reveals Such moves, the party believes, will encourage further Bitcoin adoption by eliminating “punitive taxation measures” that hamper everyday transactions. Additionally, the White Paper highlights how countries like Germany, Portugal, and Japan have already taken steps to clarify taxation and legal status for Bitcoin users and businesses. Another point of emphasis is fair treatment of Bitcoin mining. Recognizing mounting concerns about energy usage, the policy encourages the integration of mining with renewable or “stranded” energy sources to stabilize power grids and reduce environmental impact: “Bitcoin mining should not be subject to regulations that disproportionately affect the industry. Any regulatory measures must be technology-neutral and focused on broader market stability, grid integrity, and environmental standards.” According to the Libertarian Party, these approaches can help Australia avoid the pitfalls seen in other jurisdictions—such as China, where an outright mining ban led to significant industry disruption. Reactions to the Libertarian Party’s announcement have been mixed. An Australian Bitcoiner remarked: “As an Australian the Libertarian Party is relatively new outside the big two party’s, they won’t get double digits of the vote when the election is finally held. The two majors have no BTC policy that I know of & we really are a backwards country—I won’t hold my breath for any either.” Thus, no immediate impact on the BTC price can be expected. At press time, BTC faced further downward pressure and traded at $79,101. Featured image created with DALL.E, chart from TradingView.com
Brendan Gunn is the director of an Australian firm that facilitates investment in crypto and other overseas investments.
The new offering facilitates tailored and diversified exposure to digital assets
The Australian Securities and Investment Commission (ASIC) has filed a lawsuit against Oztures Trading Ltd—the operator of Binance Australia Derivatives—over inadequate customer protection practices. According to a Dec. 18 statement, the regulator claims that over 500 retail investors were misclassified as wholesale clients, denying them crucial consumer safeguards. ASIC’s allegations ASIC alleged that between July […]
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The Australian Securities and Investments Commission (ASIC) has fined Bit Trade—the operator behind the Kraken exchange—$5 million for unlawfully issuing a credit facility, according to a Dec. 12 statement. The penalty follows a federal court ruling that found the company in breach of regulatory obligations. Per the statement, Bit Trade offered a “margin extension” product […]
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Australia proposes tighter AML/CTF rules targeting crypto exchanges, legal services and real estate to combat financial crime.
Kraken Australia operator Bit Trade must pay $5 million plus court costs after the Federal Court sided with the country’s corporate watchdog.
The companies indicated plans to expand their partnership to the United Kingdom and other European countries in the coming months.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has intensified efforts to enforce Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regulations among crypto ATM providers. On Dec. 6, the watchdog said that crypto ATMs are increasingly used for money laundering and other illicit activities. Despite the country having around 400 registered crypto exchanges, only a small portion […]
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The Australian Securities and Investments Commission (ASIC) is inviting public feedback on proposed changes to its crypto regulation framework, as outlined in a Dec. 4 announcement. According to the statement: “ASIC’s position continues to be that many digital assets are financial products under the current law. [This feedback request] is aligned to and supportive of […]
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First crypto seizure by Victoria Police underscores a new legal framework empowering officers to confiscate digital assets via search warrants.
The launch of Monochrome Ethereum ETF follows the crypto investment firm's spot bitcoin ETF, which went live in August.
Australia's police has confiscated $6.4 million in cryptocurrency as part of a global crackdown on Ghost, an encrypted communications network, authorities allege was “built solely for the criminal underworld,” a statement said.
The Australian Federal Police said an analyst cracked the seed phrase to a crypto account belonging to the alleged creator of an organized crime messaging app.
Australian pension funds can expect a pitch soon for saving money on fees with a stablecoin.
Stablecoin giant Circle has signalled its plans to bring its digital currency, USDC, into Australia and beyond with the unveiling of a partnership with venture capitalist Mark Carnegie's MHC Digital Group, the companies announced on Tuesday.
Australia's crypto industry is concerned companies will move offshore after the nation's securities regulator set off "the crypto fire alarm."
Australia is taking considerable measures to regulate the cryptocurrency business, with the goal of improving consumer safety and reducing fraudulent activity. Related Reading: Digital Assets On The Table: Kamala Harris Promises To Invest In America’s Future The Australian Securities and Investments Commission (ASIC) has revealed intentions to compel cryptocurrency enterprises, including exchanges, to seek financial […]
Licensing requirements for crypto exchanges in Australia will be extended beyond those related to digital currency exchanges.
The Reserve Bank of Australia made a strategic commitment to prioritize work on a wholesale CBDC.
RBA Assistant Governor Brad Jones said the potential benefits of a retail CBDC in Australia appear modest or uncertain at present.
The number of new crypto ATMs in Australia has surged 17 times over the past two years, but TRM Labs has warned about their use in scams, fraud, and crime.
The Federal Court of Australia ruled on Friday that cryptocurrency exchange Kraken's operator in Australia, Bit Trade Pty Ltd, "contravened" with a section of the nation's Corporations Act.
The cypro scams amounted to about 9% of the total fake investment platforms taken down in the first year of its investment scam disruption program.
Coinbase (COIN) is concerned about “ongoing regulation through enforcement” which is not “helpful to the overall direction of the industry” in Australia ahead of expected draft legislation, senior executives of the cryptocurrency exchange told CoinDesk.
AUSTRAC's latest report highlights a rise in criminal use of cryptocurrencies, urging stricter regulations and international cooperation to combat money laundering.
DigitalX Bitcoin ETF will trade on the ASX as BTXX.
The Bitcoin community came to Julian Assange’s aid, helping ensure the WikiLeaks founders’ safe and debt-free return to Australia.