The Australian Tax Office is collecting over a decade of crypto transaction data, and tax dodgers could be busted if they don’t properly file this tax season.
Terraform Labs plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.
Australia's regulators have provided rare updates on their plans for the digital assets sector, including plans to introduce a draft framework for stablecoins and hinted that more enforcement is on its way against unlicensed entities during an event in Sydney on Wednesday.
The government warned betting companies that failing to comply with the new rules could result in a fine of up to 234,750 Australian dollars ($155,000).
Blockchain Australia is now the Digital Economic Council of Australia (DECA) with a membership category for banks, most of which have blocked crypto exchanges.
Bitcoin prices are hovering near $70,000, bouncing from a critical dynamic support line, evident in the daily chart. Even though bulls have yet to breach $72,000 and break above March 2024 highs, traders are optimistic about what lies ahead. Bitcoin Bulls In Charge: Analyst Targets $85,000 Taking to X, one analyst believes the world’s most valuable coin is preparing for a decisive breakout above the local resistance levels and all-time highs at around $74,000. In a post, the analyst notes that Bitcoin has been consolidating, moving sideways and even lower for the past three months since mid-March. Related Reading: Crypto Analyst Predicts Massive Solana Price Crash Using Elliott Waves If buyers succeed, the near 100-day consolidation could set the base for prices to spike, ushering a “next leg higher” that would likely take BTC to $85,000. Still, even amid the optimism, traders should be cautious. Technically, the upside momentum has been fizzling. Even with gains on June 3, buyers’ failure to confirm the gains of May 20 is slowing down the uptrend. So far, the $72,000 level on the upper hand must be conquered for any hopes of further gains. On the lower end, support lies at $66,000. Even so, the dynamic 20-day moving average is emerging as a worthy support. Any breakout in either direction, most preferably in alignment with Q1 2024 gains, would be fundamentally driven. Inflation, Spot BTC ETF Inflows Fanning Demand Looking at fundamental data streaming from the United States, the stage is being set for optimistic buyers. Cooling inflation and the uptick in M2 money supply could hint that buyers are getting ready. The United States Federal Reserve has closely monitored inflation, among other metrics. With inflation dropping, the Fed may decide to slash interest rates, fueling a bull run like it did in 2021. Related Reading: Bitcoin Gets Massive $500,000 Price Tag From Billionaire, Here’s Why Other key drivers would include the encouraging flow into spot Bitcoin ETFs. As BTC soared to register March 2024 highs, inflow spiked, driven chiefly by institutional demand. After prices broke higher on May 20, inflows have picked up momentum. On June 3, Lookonchain data revealed that spot BTC ETF issuers in the United States added 2,413 BTC. Grayscale’s GBTC reduced just 12 BTC. Launching the Monochrome Bitcoin ETF (IBTC) in Australia and a similar product in Hong Kong and globally will only increase the demand for BTC. The newly launched IBTC spot ETF in Australia will directly hold BTC, which will be under the custody of Coinbase. Feature image from DALLE, chart from TradingView
The personal and crypto-transaction related details could help identify users who failed to report their tax obligations, according to the Australian Tax Office.
Australia is poised to join the global trend of countries, including the US and Hong Kong, allowing their citizens to invest in Bitcoin exchange-traded funds (ETFs). ASX to approve Bitcoin ETFs Earlier today, Bloomberg reported that the Australian Securities Exchange (ASX) could approve its inaugural batch of spot Bitcoin ETF before the end of the […]
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The Australian Securities Exchange (ASX), which accounts for 90% of Australia's equity market, is expected to approve the first spot-Bitcoin {BTC} exchange traded funds (ETFs) before the end of 2024, Bloomberg has reported, citing people familiar with the matter.
The United States hosted its first 1,000 crypto ATMs in November 2017, while Canada achieved the same in January 2021.
Andrew Forrest’s image was used in an ad promoting crypto scams. He has another suit against Meta in a California district court.
An Australian federal court agreed to a petition by markets regulator ASIC to hand over some US$41 million in digital assets invested by over 450 Australians with the mining companies to specialists from advisory and restructuring company McGrathNicol.
Although Australia already has a couple of ETPs exposed to Bitcoin, Monochrome’s spot BTC ETF will be the first to hold physical Bitcoin in its ETF, similar to the United States-based products.
The U.S. Securities and Exchange Commission wants an extra $158 million to address the “Wild West of the crypto markets.”
An Australian Federal Court handed the Australian cryptocurrency industry a major victory in a landmark judgement on Thursday.
The much-awaited approval of spot-bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) can give unprecedented momentum for similar regulatory approvals in and around Asia.
The decision to launch Wallet Wars, a Web3 iteration of the 1970s arcade game Space Invaders, was taken by a vote of Balthazar DAO, not a management committe.
Blockchain analytics firm TRM Labs has partnered with Australian cryptocurrency exchange Swyftx in an effort to combat scams in the nation.