The Australian Bitcoin Industry Body (ABIB) and Bitcoin Policy Australia have jointly called on the Reserve Bank of Australia (RBA) to address inefficiencies in the current payment systems by embracing Bitcoin as a low-cost, cash-like digital payment solution. This comes in response to the RBA’s Review of Merchant Card Payment Costs and Surcharging and highlights […]
The Australian Bitcoin Industry Body (ABIB) has renewed its call for the Reserve Bank of Australia (RBA) and the Australian Government to diversify national reserves by allocating a portion to Bitcoin. This follows the inaction on ABIB’s 2023 proposal and highlights Bitcoin’s growing global recognition as a resilient and decentralised reserve asset. ABIB emphasises the […]
The Australian Bitcoin Industry Body (ABIB) has responded to recent remarks by RBA Governor Michele Bullock, who asserted that Bitcoin “is not money” and has “no role in the Australian economy,” by offering to collaborate with the RBA to improve understanding of Bitcoin’s unique role and benefits. ABIB proposed to provide educational resources, clarify distinctions […]
Australia’s AUSTRAC along with the Australian Bitcoin Industry Body, as well as cryptocurrency industry representatives recently met to discuss upcoming legislative changes affecting Digital Currency Exchanges (DCEs), hereforth being referred to as Virtual Asset Service Providers (VASPs), as well as and the broader digital asset ecosystem. The focus was on proposed AML/CTF reforms, reporting obligations, […]
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 September 2024, the Australian Bitcoin Industry Body (ABIB) met with key Federal members of the Libertarian Party Australia to discuss shared values and the human rights natively enforced by the Bitcoin protocol. We explored Bitcoin’s non-partisan nature, emphasising that it is truly money for everyone. ABIB raised concerns regarding proposals by Commonwealth Treasury that […]
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 […]
