Nauru Appoints Australian Brian Phelps as CEO of New Virtual Asset Authority

Following the recent passage of legislation to regulate virtual assets, including cryptocurrency, Nauru’s government has appointed Australian banking and financial markets executive Brian Phelps as the inaugural CEO of the Command Ridge Virtual Asset Authority (CRVAA). President David Adeang highlighted Phelps’ extensive experience in the industry, emphasizing that his leadership will establish a foundation of … Read more

Tasmania Hit by Spate of Crypto ATM-Related Scams

Over a dozen residents in Tasmania have been defrauded of approximately $1.64 million through scams involving cryptocurrency ATMs, with one victim losing over $493,000. Scammers Exploit ATMs Amidst Rapid Expansion More than a dozen residents of the Australian island state of Tasmania have been defrauded of an estimated $1.64 million through scams that exploited the … Read more

AUDC Deploys AUDD Stablecoin on Hedera, Expanding Multi-Chain Footprint

AUDC Pty Ltd has officially launched its Australian Digital Dollar (AUDD) on the Hedera Network. This milestone is also the first commercial use of the Hedera Stablecoin Studio. With this integration, AUDD users can send and receive stablecoin payments in real-time through Hedera-compatible wallets. The partnership emphasizes efficiency, low-cost transfers, and sustainability—thanks to Hedera’s carbon-negative … Read more

$124M Crypto Laundering Scheme Exposed in Australia—Authorities Charge Four

A long-running Australian multi-agency investigation has dismantled a sophisticated money laundering scheme in Queensland, charging four individuals and freezing $13.7 million. At the heart of the alleged operation was a security company that reportedly converted $124 million in cash into cryptocurrency to conceal illicit funds. Masterminds Convert Cash to Crypto in Bid to Hide Funds … Read more

Crypto ATM Use by Seniors Raises Red Flags—AUSTRAC Tightens Rules

Australia’s financial intelligence agency, AUSTRAC, is tightening regulations on crypto ATMs due to concerns over scams and fraud. New restrictions include cash deposit and withdrawal limits as well as mandatory scam warnings. ATM Scammers Target Senior Citizens Australia’s financial intelligence agency, AUSTRAC, is implementing stringent new measures for cryptocurrency ATM operators, including refusing to renew … Read more

Australian Regulator Appeals Ruling on Block Earner Crypto Offering

An Australian regulator announced plans to seek special leave from the High Court to appeal a recent ruling that determined cryptocurrency firm Block Earner’s offering was not a financial product. ASIC Seeks Definitive Ruling on What Constitutes a Financial Product The Australian Securities and Investments Commission (ASIC) has announced that it will seek special leave … Read more

AUSTRAC Fines Crypto Exchange Cointree for Reporting Failures

The Australian Transaction Reports and Analysis Centre has issued infringement notices totaling $75,120 to cryptocurrency exchange Cointree for failing to submit suspicious matter reports on time. Cointree Fined Despite Self-Reporting The Australian financial intelligence agency, the Australian Transaction Reports and Analysis Centre (AUSTRAC), has issued infringement notices totaling $75,120 to cryptocurrency exchange Cointree for failing … Read more

Finder Retreats From Crypto, Facilitates User Migration to Australian Exchange Swyftx

Aussie fintech firm Finder has partnered with Swyftx to facilitate the migration of its users to the latter’s crypto exchange platform. Users Must Consent to the Migration of Wallet Balances Australian fintech company Finder has announced a partnership with Swyftx to facilitate the migration of its users to the latter crypto exchange’s platform. As per … Read more

Use It or Lose It’: AUSTRAC Warns Inactive Crypto Exchanges

AUSTRAC is cracking down on inactive digital asset exchanges, urging them to voluntarily withdraw their registrations or face forced cancellation to prevent criminal exploitation. Significant Proportion of 427 Registered Exchanges Inactive Australia’s AUSTRAC is taking decisive action against inactive digital asset exchanges, urging them to voluntarily withdraw their registrations or risk forced cancellation. The agency … Read more