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Australia’s first Bitcoin and Ethereum ETFs launched by Cboe Australia and ETF Securities

Australia’s first cryptocurrency exchange-traded funds met a muted reception in their debut on Thursday as global crypto markets were being battered by the collapse of two digital tokens. Securities and derivatives exchange Cboe Australia introduced the ETFS 21Shares Bitcoin ETF and the ETFS 21Shares Ethereum ETF, the first exchange traded funds to offer Australian investors direct, regulated exposure to the world’s biggest digital tokens by market capitalization, Bitcoin and Ethereum, it said in a statement. The Cosmos Purpose Bitcoin Access …

Australian authorities lay out guidelines and roadmaps for crypto industry regulation

The Australian Prudential Regulation Authority (APRA) set out initial risk management expectations for regulated entities dealing with crypto assets on Thursday, as well as a policy roadmap for introducing further standards over the next three years. In a letter from APRA Chair Wayne Byres, the authority, which supervises banking, insurance and pension institutions in Australia, emphasized the need for due diligence and risk assessments when dealing with crypto assets.  Its roadmap revealed plans to introduce operational risk standards by 2024, …

Asset managers set to launch crypto ETFs in Australia next week

A slew of crypto exchange-traded funds are set to begin trading in the land down under.  As per the Australian Financial Review, the country’s main clearing house ASX Clear said that four ETF issuers have agreed to cover the margin requirements to list new crypto-related products on Cboe Australia.  21Shares — which operates a number of crypto exchange-traded products in Europe — said in a press release today that it will launch a physically-backed ether and bitcoin exchange-traded fund in …

FTX announces Australian expansion as government sets out its crypto stall

FTX announced on Monday that it has established a local presence in Australia, marking the latest stage of the crypto exchange’s global expansion push.  The announcement coincided with moves from the Australian government to refine its crypto strategy and introduce “badges of approval” for exchanges. “The Morrison government wants to make sure that consumers can trust the exchanges that they use to buy crypto,” minister for digital economy Jane Hume said in remarks at the Blockchain Australia event on Monday, …

Australia’s consumer watchdog sues Meta for allegedly misleading users with crypto scam ads

The Australian Competition & Consumer Commission (ACCC) announced on March 18 that it has taken legal action against Meta, alleging that the company had misled Facebook users by publishing s for crypto scams featuring local public figures unaware of the content.  “The ACCC alleges that the ads, which promoted investment in cryptocurrency or money-making schemes, were likely to mislead Facebook users into believing the advertised schemes were associated with well-known people featured in the ads, such as businessman Dick Smith, …