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Dogecon • June 21-24, 2018

Dogecon Vancouver 2018 is a weekend celebration of the social layer of crypto culture, embracing memes and tweetstorms as the…

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Tag: Australia

The Australian Tax Office is Hunting for Cryptocurrency Traders to Report and Pay their Taxes

Category: Altcoins, Bitcoin, Blockchain, Business, Finance, News, Regulation

The Australian Tax Office is Hunting for Cryptocurrency Traders to Report and Pay their Taxes

According to The Financial Review, The Australian Tax Office (ATO) is warning cryptocurrency traders that their profits from cryptocurrency trading in 2017 to 2018 will “not go unnoticed.” ATO Explains Cryptocurrency Investing The ATO has provided a very detailed and comprehensive information for Australian citizens when it comes to cryptocurrency investments. The Financial Review is certain that any cryptocurrency trader…

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Australian Cryptocurrency Firm Scams Business Partner of $6.6 Million with “Software Backdoor”

Category: Altcoins, Business, Finance, News

Australian Cryptocurrency Firm Scams Business Partner of $6.6 Million with “Software Backdoor”

In what seems like the world’s first revenge cryptocurrency transaction, an Australian cryptocurrency firm is being investigated by the police after allegations that it fraudulently used a “software backdoor” to reclaim its digital tokens following a failed business deal. Cryptocurrency Firm Gone Rogue As per an Information Security Media Group (ISME) report on June 5, 2018, Soar Labs allegedly scammed…

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The Australian Beach Town Where You Can Pay for Your Holiday in Bitcoin

Category: Bitcoin, Business, News

The Australian Beach Town Where You Can Pay for Your Holiday in Bitcoin

Agnes Water-1770, a town in central Queensland, Australia is currently “Australia’s first digital currency-friendly” tourist town. They currently have over 30 businesses that accept cryptocurrencies as an alternative form of payment. The goal is to attract more international tourists who prefer to pay for goods and services with digital currencies like bitcoin. Agnes Water-1770. Source: Pixabay According to Australian Broadcasting…

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Australian Watchdog Reveals Losses of Over AU$2 Million to Cryptocurrency Scams in 2017

Category: Altcoins, Commentary, Finance, News, Regulation

Australian Watchdog Reveals Losses of Over AU$2 Million to Cryptocurrency Scams in 2017

Cryptocurrency scams were perhaps the most widely reported feature of the digital asset class, apart from their mammoth price increase. Millions of dollars have been fleeced from unsuspecting investors, who needed nothing more than a functional website and a basic whitepaper to consider a project as “trustworthy.” Scammers Adept At Following Trends Results from a recent Australian Competition and Consumer…

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Australian Government Allocates AU$700,000 to Develop Blockchain-powered Welfare Payments

Category: Blockchain, News, Tech

Australian Government Allocates AU$700,000 to Develop Blockchain-powered Welfare Payments

The Digital Transformation Agency (DTA), an Australian government division that facilitates government information and services online, will explore new ways in which blockchain technology can deliver government services, given the AU$700,000 ($525,710) allocated in the 2018-19 budget. To start with, DTA will spearhead its study with an aim to bring into play blockchain technology for distribution welfare payments. The government…

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Australian Government Set to Ban Cash Transactions Over $10,000, an Opening for Cryptocurrencies

Category: Business, Commentary, Finance, News, Regulation

Australian Government Set to Ban Cash Transactions Over $10,000, an Opening for Cryptocurrencies

The Australian government is looking to curb money laundering practices by introducing cash payment limits. In the May 8, 2018, federal budget unveiling, authorities made clear their intentions to tackle this menace by making it illegal to carry out cash payments exceeding $10,000. The new cash limit could also encourage the use of cryptocurrencies in the country. $50 Billion of…

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Australian Stock Exchange to Implement Blockchain Technology by 2020

Category: Blockchain, Business, Finance, News

Australian Stock Exchange to Implement Blockchain Technology by 2020

The CHESS clearing and settlement system that was being used by the Australian Securities Exchange (ASX) is edging closer to being replaced by a distributed ledger-based option. Paper Details CHESS Replacement The ASX released an 87-page consultation paper which talks about the timeline of the switch and a detailed description of the supported and not-supported functions. The exchange firm primarily…

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Australian City Brisbane to Host a Debate Between Bitcoin and Bitcoin Cash

Category: Altcoins, Bitcoin, Commentary, News

Australian City Brisbane to Host a Debate Between Bitcoin and Bitcoin Cash

Brisbane, the capital of Australian territory Queensland, will be hosting a discussion between Bitcoin and Bitcoin Cash on May 15, 2018. Since there are many divided opinions, disagreements and confusion concerning the two technologies, Hayden O, a cryptocurrency technical analyst and trader and organizer of the meetup, will represent Bitcoin Cash and debate against supporters of Bitcoin Core’s lightning network….

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Australian Company to Recommission Coal Power Plant for Crypto Mining

Category: Altcoins, Bitcoin, Business, Mining, News, Tech

Australian Company to Recommission Coal Power Plant for Crypto Mining

The Redbank coal power plant situated in Australia’s Hunter Valley will reportedly be reopened with the sole purpose of powering cryptocurrency mining rigs. The owner of the power plant, a utility company named Hunter Energy, has entered an agreement with a local tech company, IOT Group, to restart operations for the first time since 2014. IOT Group plans to set…

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Cryptocurrencies Under Surveillance from AUSTRAC to Prevent Money Laundering and Terrorism

Category: Altcoins, Bitcoin, Business, Finance, News, Regulation

Cryptocurrencies Under Surveillance from AUSTRAC to Prevent Money Laundering and Terrorism

Cryptocurrency exchange providers operating in Australia are now under AUSTRAC, the Australian financial intelligence agency’s watch. The enactment will help minimize the use of cryptocurrencies for illegal purposes like money-laundering and terrorism. Digital currency exchange (DCE) entities must now register with AUSTRAC. They are required by law to meet the Anti-money Laundering and Counter-terrorism Financing (AML/CTF) compliance and reporting obligations….

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