Australian regulators open to Bitcoin ETF with ‘rules in place’
Securities regulators' down under said that they are open to a Bitcoin ETF, so long as investors are protected by the proper rules. The Australian Securities and Investments Commission has clarified its position regarding Bitcoin (BTC)-linked exchange-traded funds. According to a Feb. 12 report by the Australian Financial Review, the commission addressed the subject after previously rejecting a Bitcoin ETF initiative by local company Cosmos Capital.Per the report, Cosmos CEO James Manning claimed that ASIC “have a policy — which they have not released — which says they do not want an....
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Bitcoin has been quite the hot property in Australia over the past eighteen months, and it has caught the attention of the nation's financial regulators, as it has in nations worldwide. In Australia, in particular, Bitcoin is very popular. Just not popular enough to threaten the status quo, according to the nation's monetary policy regulators. Australian regulators: We'll let it go, for now. Dr. Anthony Richards is the head on monetary policy for the Australian RBA, their fiat currency central bank. He released a statement regarding the current stance of regulators towards Bitcoin: "Given....
The Australian Government announced in its report entitled “Backing Australia's Fintech” that the current double tax law on digital currencies including Bitcoin is soon to be reformed. Digital currencies such as Bitcoin were in 2014 established by the Australian Taxation Office (ATO) as intangible assets for goods and services tax purposes. Thus, payments involving bitcoin have been considered as a form of barter rather than conventional transactions. However, the major issue with the GST law on digital currencies is that Australian residents who purchase items or goods using bitcoin are....
A group of Senate Republicans is pressing bank regulators to build on recent regulatory progress by creating a clearer capital framework for crypto activities and asset treatment. Related Reading: UK House Of Lords Urges BoE To Ease Stablecoin Rules Over Competitiveness Concerns US Senators Call For Clear Crypto Capital Rules On Thursday, Senate Banking Subcommittee […]
An Australian pension fund is exploring offering Bitcoin and other digital assets to its members as investment options. Related Reading: Polymarket Just Dropped Its Toughest Insider‑Trading Rules Yet – But Can They Really Calm DC? A Rare Bitcoin Move In what Bloomberg fittingly calls a “rare move”, Hostplus, a A$150 billion+ ($105 billion) Australian pension […]
The British Financial Conduct Authority (FCA) and its Australian counterpart, Australian Securities and Investments Commission (ASIC) have signed the first-of-its-kind agreement whereby innovative Fintech companies in Australia and the United Kingdom will have more support from financial regulators as they attempt to enter the others’ market. Christopher Woolard, director of strategy and competition at the FCA, said: Innovation in financial services isn’t limited by national borders… We also know that many British firms wish to use the UK as a springboard to launch their businesses or....