Joining fees are a bit of a bummer
It still amazes me that the #hype around #xrp being bigger by up to 1000X than #Bitcoin continues! How? I get #Bitcoin, only 21 Million, stable sound money. Xrp? Hmmmm 🤷
Exciting times in #Bitcoin, and I can remember using the first computer 🥳🤣 Looking forward to reaching the top end ⚡️⚡️
(Pic from The Bitcoin Way)
We started here, great series to start understanding why, then the how will be the next progression
https://youtu.be/DyV0OfU3-FU?si=9axw-J4LLymyGmSd
‘The hidden secrets of money’
Awesome! What are they using to accept payments?
Australian Government position , oddly, it’s not widely promoted in our media, this story from Decrypt.co is interesting, but still short of actually providing a plan to encourage, just manage.
Below copied from online story found here - https://decrypt.co/311035/australia-unveils-new-crypto-regulations-pledges-action-debanking?amp=1
#Bitcoin #crypto #australia
The Australian government, under Prime Minister Anthony Albanese, has outlined a new regulatory framework for digital assets, aiming to provide greater certainty for industry participants while addressing risks tied to consumer protection and market integrity.
The reforms will require major crypto platforms to obtain an Australian Financial Services Licence while exempting smaller-scale firms and businesses not involved in financial services.
Treasury's Statement on Developing an Innovative Australian Digital Asset Industry paper, released Thursday, details plans to regulate Digital Asset Platforms and payment stablecoins under existing financial services laws.
The move follows similar regulatory approaches in the European Union and Singapore, The Treasury Department wrote.
"By aligning with international best practices, Australia can boost the global competitiveness of our digital asset sector," the paper reads.
It's worth noting both the EU and Singapore have taken significant steps to regulate crypto, with the EU introducing MiCA as a bespoke regime, while Singapore extended its existing Payment Services Act to include crypto service providers under its licensing and compliance framework.
Before MiCA, the EU applied existing financial regulations like MiFID II for security tokens, the E-Money Directive for stablecoins, and AMLD5 for crypto exchanges, a phased approach similar to Australia’s strategy.
Regulatory scope and key Inclusions
The proposed framework will apply to crypto exchanges, custody services, and specific brokerage platforms that facilitate trading and storage of digital assets.
Businesses offering tokenized stored-value facilities, including some stablecoin issuers, will also be subject to licensing and compliance obligations.
However, firms creating or using digital assets for non-financial purposes, developing software, or maintaining digital asset infrastructure will not fall under the new regulations.
Government seeks to tackle debanking
The government also acknowledged debanking—where financial institutions restrict services to crypto firms—as a growing issue.
The new licensing regime aims to improve risk management and transparency within the sector, which could reduce instances of debanking by major financial institutions.
“The government has been working with stakeholders to ensure transparency and fairness, including engaging with Australia’s major banks to understand the extent of debanking,” the paper reads.
Jonathon Miller, Kraken's managing director of Australia, welcomed the initiative, emphasizing the need for bespoke legislation to reduce uncertainty.
"It's great to see recognition of the urgent need for bespoke crypto legislation to address the existing confusion and uncertainty facing Australian crypto investors and businesses," Miller told Decrypt. "By establishing a clear regulatory framework and mitigating problems like debanking, the government can remove the barriers hampering growth in the Australian economy."
The government plans to release draft legislation for public consultation sometime this year.
The Australian Securities and Investments Commission is also expected to refine its guidance on digital assets with further updates to its Information Sheet 225.
Interesting thanks
A bit scary as it seems like the issue that put us into this Fiat nonsense back in 1971. I may be wrong or misunderstanding, but governments playing in this space scare me 😳
Kinda scary how already it seems to be following the deficit spending model? Or im missing something. Interesting though
Excellent conversion rate 🥳
#Beautiful #moonrise the other night. Amazing what iPhones can capture these days.
#Kirra #Australia #Grownostr
Seems legit
Strategic alright, play the economy to drop the price so everyone can get in at the dip before releasing the hounds!!!
There is $600 billion worth of U.S. gold reserves to spend on #bitcoin, according to :morehead: Dan Morehead of :pantera: Pantera Capital, a blockchain investment firm. "Hopefully it is all there."
https://junkflex.com/bitcoin/600gold.mp4
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Hmmm. Have they found or just ‘made’ more gold for this? 🤪
I Love it when I find a #Bitcoin vendor at a market 🤓 Murwillumbah NSW. Australia #grownostr #australia
It’s interesting that corporations and governments are stockpiling and causing market fear, it seems to play into their desire to push the fear and price index so they capitalise on the costs. Hopefully it won’t go against the ethos of BTC to provide freedom.
And the race is on ⚡️🤓
It seems people still need training, so many fools driving into flooded roads! WTF? Yes, you have a snorkel and may be fine. But, no idea the condition of the road or depth, and the waves then flood further properties. With the amount of rescues, seriously! Stay out of flood waters ya muppets! #tcalfred #australia #unsafedriving