ChatGPT, AI should pay for News its platform uses
According to the CEO of News Corp Australia Michael Miller, developers of artificial intelligence (AI)-powered applications should pay for the news and material used by their platforms to enhance their products. In an editorial published on April 2 in The Australian, Michael Miller urged “creators of original news and material” to avoid the mistakes of […]
Australian crypto exchange considers Hong Kong setup
Independent Reserve, an Australian cryptocurrency exchange, is exploring the possibility of establishing a presence in Hong Kong as the city shows a “friendly” licensing regime towards crypto and cryptocurrency businesses. In an effort to become Asia’s next crypto hotspot, the Hong Kong Securities and Futures Commission (SFC) on February 20 suggested a licensing scheme for […]
Banks to record crypto transactions in Australia due to SVB crises
Following the spread of the Silicon Valley Bank (SVB) crisis, Australia’s prudential regulator has reportedly requested local banks to record cryptocurrency transactions. The Australian Financial Review reported on March 21 that the Australian Prudential Regulatory Authority (APRA) has begun demanding banks to identify their exposures to startups and crypto-related enterprises. The regulator has asked banks […]
Australia releases consultation paper on token mapping
The Australian Treasury is looking for feedback on its most recent consultation document on token mapping, which examines cryptocurrency assets in the Australian financial services regulation context. The government declared in August 2022 that it would take the cryptocurrency ecosystem more seriously and that “token mapping” would be a “foundational step in the government’s multi-stage […]
National Australia Bank launches AUD stablecoin
National Australia Bank has developed AUDN, a stablecoin that enables business customers to settle transactions in Australian dollars. The National Australia Bank (NAB) will be the second of the “Big 4” Australian banks to launch an Australian dollar-pegged stablecoin on the Ethereum network. According to an Australian Financial Review report from January 18, the AUDN […]