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AUSTRAC Halts Two Crypto Exchanges for Organized Crime Investigation (AUSCOIN ATM and SK BTC)

AUSTRAC, the financial intelligence agency of Australia recently suspended two crypto businesses on the grounds of their alleged links to an organized crime syndicate. The shutdown of these exchanges followed the arrest of a Melbourne man aged 27-years old on the charges of drug trafficking offenses by the Australian Federal Police on Thursday. The suspension […]
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Austrac Joins Forces with Australian University to Develop Blockchain Solution for International Funds Transfer

In a bid to make it possible for banks, remitters, and casinos to automate international funds transfer instructions (IFTIs), the Australian Transaction Reports and Analysis Centre (Austrac is collaborating with Swinburne University, a leading educational institution located in Melbourne, Australia, to trial blockchain technology, reports ZDNet on February 24, 2019. Australia on Board PerRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
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Australian Agency, AUSTRAC, Registers 246 Bitcoin Exchange Platforms To Curb Terrorism Financing

Australian Agency, AUSTRAC, Registers 246 Bitcoin Exchange Platforms The government of Australia, through The Australian Transaction Reports and Analysis Centre (AUSTRAC), has formally enlisted two hundred and forty-six trading platforms. Digital assets that are considered as securities are now required to enlist with AUSTRAC so as to operate legally. The move by financial intelligence agency is in a bid to regulate how citizens trade their digital assets. The registration process for bitcoin exchanges is similar to banks or other financial institutions. It includes background checks, KYC practices, and anti-money laundering procedures on the involved parties. The process may also involve, establishing and implementing a compliance program for specific issues. AUSTRAC Registration To Strengthen Anti-Money Laundering Programs AUSTRAC has been carefully watching and monitoring the crypto market for some time. In April 2018, the newly amended anti-money laundering and counter-terrorism laws took effect. The law has made it compulsory for all crypto exchanges to register with the regulatory agency. In accordance with published news by ABC, AUSTRAC, 11 crypto trading exchanges have been under scrutiny since the implementation of the new laws, out of which two were declined. Details as to why they were denied were not revealed. The exchanges were given a grace period until October to conform to the rules. This included verifying their clients, report suspicious matters or dealings that may be connected to terrorist funding or money laundering. In the report, an anonymous official from AUSTRAC issued a stern warning to those who would not comply. He stated that those operating an unregistered exchange will be prosecuted for a criminal offence. A Great Step Towards Legitimacy Crypto regulation move in Australia has received backing from participants in the industry. One Phillippa Ryan, a digital asset researcher at the University of Technology in Sydney, stated that the obligatory registration exercise will delegitimize the shoddy operators and remain with authentic blockchain projects and enterprises. She reasoned out that, illegitimate trading platforms create public mistrust in cryptocurrencies. The crypto industry has experienced a series of hacks that led to millions of dollars in losses and investors are worried about the safety of their assets which are in the exchanges’ custody. Adrian Przelozny, the head of Independent Reserve, a local digital asset exchange platform, said that the regulation is very significant in bringing cryptocurrency into the mainstream. He went on to add that, a few years ago, anyone could start their own exchange because there were no proper guidelines in place. As such, the consumer was left to do his/her own investigations as to whether the exchange they are dealing with is efficient and trustworthy. Summary Despite the genuine uses of cryptocurrencies, it is estimated that at least 50% of all cryptocurrency trade is for criminal activity linked to the darknet. Other elements that may have led to the decision by AUSTRAC to regulate exchanges was the reports of potential scams. Last year, the agency received 6000 reports on investment scams which resulted in a loss of over $9.5 million. Concerns were also raised about initial coin offerings (ICOs) and some ended up being get-rich-quick schemes.
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Australia Financial Regulator Austrac Grants Coinzoom Bitcoin Exchange A License

A new exchange has been recently added to Australia. Starting from today, December 3, Coinzoom Australia is a new official crypto exchange in the country. The announcement was made soon after the digital currency exchange received the license from the Australian regulator Austract. With this new license, Coinzoom Australia will now operate legally in the whole extension of the country and will be able to lawfully offer its services to citizens. Coinzoom Australia will be a digital crypto exchange that will have fiat to crypto options and a support for some of the most high profile crypto assets like Bitcoin (BTC), Bitcoin Cash (BCH) and Ripple’s XRP token. Todd Crosland, the CEO of Coinzoom, has affirmed that being fully regulated and registered will help the company a lot and is an important step for Coinzoom Australia as the company is set to offer the best-regulated services in the country for both retail and institutional investors. The license was given by Austrac, the Australian Transaction Reports and Analysis Centre. The agency is run by the government of Australia and its main function is to monitor if the exchange and financial services in the country are compliant with the national law. It tracks evidence from organized crime, terrorism, illegal financial transactions and money laundering in the country, as well as fraud. Coinzoom Australia To Be Launched In 2019 Now, as the company has its so-awaited license to operate in the country, the launch if near. According to the original report, Coinzoom Australia will be launched in the first quarter of 2019 and any traders who are interested in using the services of the company will need to be compliant with both KYC (Know Your Customer) and AML (Anti Money Laundering) processes. Whitelisting is said to be quick but it will have to compliant with the laws from both Australia and the United States. This new platform was created to cater especially to the local investors of Australia and to give them a simple way to use their credit cards and bank accounts to trade cryptos. The company was also reported to offer some additional features like debit cards that offer rewards for being used, social trading capabilities and a pattern recognition system. About Coinzoom Coinzoom Inc is the main company that will run Coinzoom Australia. The company is self-described as “an institutional grade digital currency platform” that allows the users to trade their digital assets (mostly the top coins of the market like Bitcoin and Ethereum). The company is registered in all the 50 states of the U. S. and has started the process to offer remittance services in three American states: Florida, Maryland and Iowa. Australia, A Crypto Hub Slowly but surely, Australia is turning into a crypto hub. Even before Coinzoom Australia arrived in the country, many exchanges were already set there and were operating in a regulated way. The country is very enthusiastic about using the blockchain technology and a town in the county of Queensland has even claimed that it would become the first “digital currency town” with crypto payments in the whole country. As a lot of Australians use cryptos, it is expected that they will be increasingly regulated in the country and that more and more people will start to use them as well.
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CoinZoom Subsidiary Officially Registered as a Digital Currency Exchange with AUSTRAC

SALT LAKE CITY, Dec. 3, 2018 /PRNewswire-PRWeb/ -- U.S.-based cryptocurrency exchange, CoinZoom, announced today that its wholly owned subsidiary, CoinZoom Australia, became officially registered as a Digital Currency Exchange with AUSTRAC. The Digital Currency Exchange registration allows the exchange to legally operate according to Australian law, and function as a cryptocurrency exchange that can accept and exchange fiat, digital assets, and any other cryptocurrency. CoinZoom Australia serves both Australian and International customers. CoinZoom, Inc. is positioned to serve U.S. customers and has registered as a Money Services Business in all 50 states with FinCEN and is in the process of securing Money Transmitter Licenses in states where it's required. Recently, CoinZoom received Money Transmitter Licenses in Florida, Full story available on

AUSTRAC Investigates Cryptocurrency Exchanges

Australia’s financial regulator, the Australian Transactions Reports and Analysis Centre (AUSTRAC), is tightening up surveillance on cryptocurrency exchanges as sophisticated criminals leverage digital currencies to send money internationally. According to the ABC Radio Program broadcast on October 9, 2018, cryptocurrency exchanges in Australia are being investigated since global risks concerning money laundering, terror financing, and cybercrime are becoming increasingly large...Read More. The post by Cindy Huynh appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
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Bitcoin Struggles As BAT And ETC Lead The Charge

The cryptocurrency market has somewhat stabilized, presenting a predominantly green landscape as Bitcoin struggles to stay above the psychological $10,000 marker.   Cryptocurrency Market Situation. Source: Coin360   Sentiment for Bitcoin has seen a moderate improvement towards a strongly neutral outlook.   Bitcoin Sentiment Chart by   Despite this overall lukewarm performance, proponents of Bitcoin’s store of value potential have reason to rejoice today. According to a report by Digital Asset Data, BTC is increasingly gaining correlation with the broader asset markets – positively with gold, and negatively with the stock market. With a recession looming on the global economy, Bitcoin could fulfill the role of a “safe haven asset,” to which investors flock during uncertain economic times. Altcoins see recovery with ETC and BAT leading The rest of the cryptocurrency market is seeing strong corrections from yesterday’s fall, with two strong outliers making significant gains. Basic Attention Token is strongly reacting to its new listing on Kraken, a popular exchange part of Weiss Ratings’ Real 10 index of platforms reporting true volume. BAT has gained more than 15% on yesterday’s price, while curiously its partner-in-listing WAVES has registered a much more modest 4%. The stark difference can be explained by the contribution of other fundamental drivers, with BAT recently launching the much-anticipated online tipping feature in its browser.   BAT Recent Price Trend. Source: CoinMarketCap   The other outlier is none other than Ethereum Classic, which after an against-the-grain rally on Tuesday has continued today with a 14.6% gain. The total 7-day performance is a solid +21%, by far the highest in the top-50. As before, it’s difficult to give a meaningful explanation of the rally. The upcoming ETC Atlantis hard fork is scheduled in about 22 days, too far ahead to justify any price action, though the final confirmation was released on Monday. The run is likely to be due to a combination of factors, including possible whales entering ETC positions. The rest of the altcoin market is seeing moderate recoveries, with IOTA, TRON and Cardano gaining 8%, 6.32% and 6.42% respectively as the rest average on 3-4%.   The post Bitcoin Struggles As BAT And ETC Lead The Charge appeared first on Crypto Briefing.

Casa Unveiled Node Monitor Service to Leapfrog Bitcoin Network Health

Coinspeaker Casa Unveiled Node Monitor Service to Leapfrog Bitcoin Network HealthA famous crypto startup firm recognized as Casa that offers primary management service, and Bitcoin node machine has launched a node monitor as well as accompanying reward program to develop Bitcoin network health.The firm revealed the latest innovation in an official website article on Aug. 21. Per the announcement, the node monitor known as Node Heartbeats depends on creating a brief relationship between the server of Casa plus, an internet synced and Tor-activated node owned by a user. The rewards program enables Casa node subscribers to earn 10,000 SatsBack weekly in exchange for operating 5 Node Heartbeat checks weekly, on separate days.SetBack can reportedly be converted for Bitcoin (BTC) just once per day on Keymaster app for Casa, as long as a consumer has garnered a minimum of 50,000 SatBack points. According to the report, Casa is firmly convinced that it`s hectic for consumers to keep up with the trend on their node`s uptime as well as security. By offering an inducement program to leapfrog node health, the firm reportedly expects to enhance the overall health of the Bitcoin network.How the Node Heartbeat OperatesTo verify that node is online, the company makes a concise link from their server to the users Casa Node. For this to be manageable, the user`s node must be synced, online, and with Tor activated. But with Tor, that indicates the node Heartbeat secures user`s privacy.Speaking of privacy, the Node Heartbeat only utilises the connection code of the consumer-the same code that is already existing in explorers and that which the consumer release to others who are willing to launch a channel with them. Sats App automatically submits the code for the users when they send a Heatbeat to saves them from the agony of looking it up.Guess Who Is The Latest Casa Investor?Charlie Lee, Litecoin (LTC) founder revealed just three days ago that he has heavily invested in Casa. He went ahead to praise Casa for spearheading BTC acceptance, indicating:“I have the same feeling about Casa today as I had about Coinbase when I joined in 2013 as the 3rd hire. Casa is making Bitcoin easy to use, and that is extremely important for this space. Looking forward to great things!”New Node Monitor by Lightning LabsAs initially reported by Cointelegraph that the designer of the high-speed transaction protocol Lightning Network, Lightning Labs recently unveiled an alpha version of a node monitor. The invented device, called Indmon, allegedly enables nodes operators to supervise node functions in real-time. Network cases this year reportedly influenced the developers to design a tool for preemptively detecting network and node issues.Casa Unveiled Node Monitor Service to Leapfrog Bitcoin Network Health

Gemini Exchange Launches In Australia in Effort to Expand its ‘Crypto Needs Rules’ Brand

One of the most prominent exchanges, Gemini which is owned by Winklevoss Twins is now available for Australian crypto users. “Cryptocurrency is the future of money, and we're committed to building a bridge to that future in Australia.” – @tylerwinklevoss We are thrilled to announce that starting today, we are operational in Australia 🇦🇺 Read […]
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Tether to Launch RMB Stablecoin "CNHT"? CryptoNews

Tether is rumored to launch RMB Stablecoin. Such a move could land crypto in serious trouble in China as the RMB is tightly controlled and regulated. Binance Venus is also on its tails. Ukranian miners accidentally leak sensitive Nuclear Powerplant data. #Cryptocurrency #crypto #Tether RMB Stable Coin 👍🏻Subscribe to Boxmining for Cryptocurrency Insight and News: 🔒Hardware Wallet: 👍🏻Brave Browser: 📲Enjin Wallet: 👍🏻Unstoppable Domain: 📲Binance Exchange : #Bitcoin #Ethereum #Cryptocurrency ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Telegram groups (Discuss Crypto with us!) Telegram Discussion Group: Telegram Announcements: ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● ♨️Social (Add me on Social Media!) Instagram: Twitter: Facebook: Steemit: ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video. ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

Kraken To List Basic Attention Token (BAT) and Waves

Kraken has announced they will be listing BAT and WAVES, with pairs denominated in USD, EUR, BTC, and ETH. Trading commences at 13:30 UTC on August 22, 2019, and deposits will take 30 and 10 confirmations before being credited to users Kraken balances for BAT and WAVES, respectively, August 21, 2019. Kraken Expands Altcoin OfferingsRead MoreRead More. The post by Ashwath Balakrishnan appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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