In a formal submission to the Senate Standing Committee on Environment and Communications, we warned that its passage could severely harm free speech, public dialogue, and Australia’s democratic values.
In a bid to safeguard consumers, the Treasury Department has released the “Regulating Digital Asset Platforms” proposal. The proposal rests on the assumption that the recent failures of cryptocurrency platforms resulted from unregulated intermediaries. The Australian Bitcoin Industry Body (ABIB) has expressed concern regarding this assumption, arguing that it does not effectively address the scams […]
We are thrilled to announce the winners of the 2024 ABIB Awards, celebrating excellence and innovation in the Australian Bitcoin industry! These companies have demonstrated outstanding contributions in their respective categories, helping to advance the Bitcoin ecosystem in Australia. @theamberapp (AmberApp) 🏆 Best for Beginners🏆 Best UI/UX🏆 Best Brand & Design AmberApp has excelled in […]
ABIB facilitates bi-annual meetings between its members and AUSTRAC to foster open dialogue on regulatory compliance and anti-money laundering (AML) and counter-terrorism financing (CTF) efforts. These meetings serve as a platform for ABIB members to discuss challenges, provide feedback, and stay updated on evolving compliance requirements. Key objectives of these meetings include: These bi-annual sessions […]
Recently, the Australian Bitcoin Industry Body (ABIB) has raised concerns regarding various financial institutions limiting their customers from investing and purchasing bitcoin. It seems as if double standards are being applied to the Bitcoin industry. Banks have cited the reasons are to protect its customers from scams and other fraudulent activities. ABIB agrees that any […]
The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Reform Consultation Roundtable, organized with the Attorney-General’s Office (AGO), provided a focused platform for key industry participants, including ABIB, to engage directly with policymakers on proposed reforms to Australia’s AML/CTF laws. This consultation was crucial for addressing the challenges and opportunities within the Bitcoin-only sector under the current […]
ABIB recently engaged in a key meeting with the Commonwealth Treasury to address concerns regarding their proposal to regulate digital asset platforms. The proposed regulatory framework, which seeks to apply stringent financial services licensing (AFSL) requirements to all digital asset platforms, could have significant implications for Bitcoin-only exchanges. During the meeting, ABIB emphasized the need […]
ABIB members held a video meeting with Monoova, a leading payments solutions provider, to discuss strategies for reducing and preventing fraud targeting Bitcoin Exchanges. This meeting was a key initiative in ABIB’s ongoing efforts to enhance security and protect consumers. During the meeting, ABIB and Monoova explored several crucial areas related to fraud prevention, including: […]
The Australian Bitcoin Industry Body (ABIB) announces several key leadership changes as part of its ongoing efforts to strengthen its mission and governance. ABIB thanks Daniel, Jeremy, and David for their invaluable contributions and welcomes Elmo and Bayani to their new roles as we continue our work to support and protect the Australian Bitcoin ecosystem.
As of March 2023, the Reserve Bank of Australia (RBA) holds AU$87.5 billion in foreign currency reserves, 88% of which consist of unbacked fiat currency, with less than 8% in gold. Alarmingly, virtually all of Australia’s gold reserves (over 99.9%) are stored in the Bank of England. The fiat currency system, with its unlimited supply, […]
