It began in a butcher shop The Smorgons are one of the great dynasties in Australia. As CEO of the family office, Edwards manages business interests including hedge funds, steel manufacturing, D’Vine Ripe tomatoes and teenage fashion at General Pants. It is estimated that the family is worth $2.7 billion...
Despite an “overwhelmingly positive” reception of the app’s crypto feature, CBA has walked back its decision, citing volatility following Terra’s collapse The bank had previously partnered with Gemini and Chainalysis to integrate its services to the bank’s native app Australia’s largest bank by total assets has shuttered the rollout of...
Commonwealth Bank (CommBank), the largest bank in Australia, has reportedly suspended its planned in-app cryptocurrency trading pilot without setting a new timeframe for when it would resume the service. CommBank Pauses Crypto Services at Pilot Phase According to the Guardian Australia, on Thursday (May 19, 2022), Matt Comyn, the chief...
The Australian Tax Office has issued a warning to the country’s crypto investors to correctly declare their capital gains or losses Crypto is one of four main areas the agency is focusing on which also includes record keeping, work related expenses and rental property income The Australian Tax Office (ATO)...
Written by Chris Duckett, APAC Editor Chris Duckett APAC Editor Chris started his journalistic adventure in 2006 as the Editor of Builder AU after originally joining CBS as a programmer. After a Canadian sojourn, he returned in 2011 as the Editor of TechRepublic Australia, and is now the Australian Editor...
Australian regulators seek crypto regulation by 2025 The Australian Prudential Regulation Authority (APRA) has released a policy roadmap to adopt crypto-asset regulation for financial institutions. According to a policy statement released a few days ago, Australia’s primary financial regulator has set a provisional aim for 2025 for the framework to...
Marcus Lim, cofounder and CEO of Zipmex. COURTESY OF ZIPMEX Zipmex, a Southeast Asian crypto trading platform, has joined forces with teams from Australia’s A-League Men soccer league and National Rugby League to strengthen its foothold in the country, following $52 million in total funding over the years from investors...
Both regulators intend to bolster proposed legislation in a bid to mitigate risk while curbing criminal activity APRA is also seeking potential approaches to the “prudential” regulation of stablecoins Two of Australia’s major regulators have issued guidance on best practices for businesses handling crypto, in a move that advances financial...
Australia’s main financial regulator, the Prudential Risk Authority, or APRA, today (April 21) set a 2025 target for implementing regulations governing cryptocurrencies. “While activities associated with crypto-assets are still relatively limited in Australia, the potential scale and risks of such activities could become significant over time,” a policy roadmap issued...
Key Insights: APRA aims to tackle risks such as operational, investment, fraud, etc. The roadmap is planned to be executed by 2025. Recently the Russian finance ministry also announced its crypto regulation bill. Today, the Australian Prudential Regulation Authority (APRA) announced its crypto risk management expectations and policy roadmap. According...
