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CryptoCurrency

Crypto Exchange JPEX Moves to Deregister Australia Entity, HK Blocks Access

  • Hong Kong police received complaints from 1,641 investors involving HK$1.2 billion in crypto assets.
  • Several arrests were made in connection with the crypto exchange.
by Arnab Shome
Retail FX

ASIC Grants 332 Australia Financial Services License in FY23

  • The number decreased significantly from the previous year.
  • The regulator also suspended 26 AFS licenses last year.
by Arnab Shome
CryptoCurrency

Aussie Operator of Kraken Sued over Design and Distribution Failures

  • The Aussie regulator took action against the platform's margin trading product.
  • Kraken is "surprised and disappointed" with the regulatory action.
by Arnab Shome
Brokers

ASIC Fines Interactive Brokers for Allowing Suspicious Trading

  • The broker's surveillance system triggered 44 'marking the close' alerts.
  • The regulator called it 'negligent' and 'reckless' conduct.
by Arnab Shome
FinTech

ASIC Sues PayPal: Alleges Unfair Terms for Small Aussie Businesses

  • PayPal gives only 60 days to businesses to challenge any errors with fees.
  • The payments firm has about 608,275 active business account contracts in the country.
by Arnab Shome
Retail FX

Obligations for CFDs Brokers: ASIC Seeks to Tighten DDO Rules Further

  • The Aussie regulator introduced the DDO rules in October 2021.
  • It has taken action against five retail OTC brokers since then, including a lawsuit against eToro.
by Arnab Shome
Institutional FX

Tradeweb Completes A$125 Million Acquisition of Yieldbroker

  • The deal aims to strengthen Tradeweb's foothold in the APAC bond markets.
  • The company's client will gain access to Australian and New Zealand's debt instruments.
by Damian Chmiel
CryptoCurrency

Melbourne-Based Crypto Lender Helio Sentenced for Misleading License Claims

  • The company claimed Australian Credit License but allegedly did not hold one.
  • ASIC has imposed an AUD $15,000 recognizance against the lender.
by Jared Kirui
Retail FX

No AFS License Needed until 2025: ASIC Extends FFSPs Transitional Relief Again

  • The Australian regulator extends the deadline for foreign firms.
  • The date has been set for 31 March 2025, pushing back the need for an Australian license.
by Damian Chmiel
Retail FX

FX/CFDs Broker Probis Goes Bankrupt, ASIC Halts Its License

  • ASIC has halted Probis Financial Services' AFS license due to its bankruptcy.
  • The firm must maintain membership with the AFCA until 30 October 2023.
by Damian Chmiel
Retail FX

ASIC Reports $109M in Civil Penalties and 144 Ongoing Cases after H1 2023

  • The first half of 2023 saw 125 charges against individuals.
  • 70 investigations have commenced, and 144 are still ongoing.
by Damian Chmiel
CryptoCurrency

ASIC Cancels License of Bankrupt FTX Australia

  • The regulator initially suspended the license of the crypto exchange on 14 November 2022.
  • The administrators of the Aussie subsidiary are yet to resume withdrawals.
by Arnab Shome
Institutional FX

Australia’s Central Bank Picks Michele Bullock as First Female Governor

  • Bullock will serve as the ninth governor of the RBA.
  • She replaces Philip Lowe, who will end his tenure in September.
by Jared Kirui
Brokers

Fortune Prime Acquires GMT Markets to Offer CFDs in Australia

  • GMT Markets has offered FX and CFDs in Australia since 2011.
  • Fortune Prime has already started to offer services with the ASIC license gained through the acquisition.
by Arnab Shome
CryptoCurrency

Aussie Regulator Searched Local Binance Offices

  • The search was a part of the ongoing probe against the exchange derivatives business.
  • Neither ASIC nor Binance confirmed the search.
by Arnab Shome
Retail FX

Australia Launches Fusion Cell to Tackle $1b Investment Scams

  • Australia's National Anti-Scam Centre is spearheading the country's first fusion cell.
  • The initiative aims to disrupt scam operations.
by Damian Chmiel
Retail FX

ASIC Flags Mitrade Global for DDO Violations, Suspends Operations

  • Mitrade offered unlimited attempts to retail traders to pass its questionnaires.
  • The order is effective for 21 days unless revoked earlier.
by Arnab Shome
CryptoCurrency

Binance Australia's $9k Bitcoin Discount Signals Investor Concern

  • Binance Australia sells Bitcoin way cheaper than competing exchanges in the region.
  • The discount results from investors fleeing before June's withdrawal suspension.
by Damian Chmiel
Retail FX

ASIC Pushes Financial Advisor Registration Deadline to 1 October

  • The regulator will run a campaign to make the industry understand its requirements.
  • The Aussie Parliament will also consider improvements in the proposed requirements.
by Arnab Shome
CryptoCurrency

Binance Australia to Allow AUD Withdrawals Until June 1

  • The payment provider of the Binance subsidiary suspended services.
  • Aussie users can still buy and sell cryptos using credit and debit cards.
by Arnab Shome
CryptoCurrency

ASX Abandons Blockchain-Based System to Replace CHESS

  • The exchange operator decided to replace CHESS in 2016.
  • It will not look for more conventional technology.
by Arnab Shome
FinTech

Revolut Seeks Banking License in Australia

  • The fintech firm recently launched business accounts in Australia.
  • It has around 100,000 business customers across Europe.
by Arnab Shome
Retail FX

Saxo Amends CFDs Target Market Determination amid ASIC’s Stop Order

  • The regulator issued eight stop orders against Saxo’s offerings.
  • The orders were revoked in two days.
by Arnab Shome
CryptoCurrency

Binance Australia Faces Crises as Payment Provider Halts Support

  • AUD deposit is suspended, but withdrawal is still open.
  • The exchange is now looking for an alternative partner.
by Arnab Shome
FinTech

Australia Signals It Won’t Tolerate Scams: Regulator and Ombudsman Join Forces

  • APRA and AFCA are seeking an efficient financial system.
  • The move is a partial shift in accountability towards consumers, a fintech expert stated.
by Solomon Oladipupo
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