Another day of gains for Bitcoin (BTC) has seen the price of the largest cryptocurrency by market capitalization go beyond the $1.1 trillion mark — $1.105 trillion to be precise. This market capitalization growth now means that Bitcoin’s market size has surpassed Canada’s M1 money supply which stands at $1.104 trillion, according to data from CEIC. At the present figure, Bitcoin’s market capitalization is also greater than the M1 money supply of the Australian dollar, which currently stands at $1.079 trillion. By exceeding Australia and Canada, Bitcoin's market capitalization is once again large enough to make BTC appear in the …

The Australian government has opened applications for grants up to $3 million each in funding to blockchain projects targeting supply chain tracking in the minerals industry and tax tracking in the food and beverage sector. Applications are open until April 29, with any sole trader, partnership, publicly-funded research organization, or entity incorporated in Australia that possesses an Australian Business Number eligible to apply. The money will be used to fund two distinct pilots. The Food and Beverage Provenance pilot hopes to support a team addressing the complexities associated with spirits producers complying with excise taxation. The Critical Minerals Pilot will …

Iris Energy, an Australian firm that invests in Bitcoin (BTC) mining data centers powered by renewable energy sources, has doubled its second pre-initial public offering round. According to Bloomberg, a 13 million Australian dollar ($10 million) commitment from equity manager outfit Platinum Asset Management has seen Iris increase its second pre-IPO target to 40 million Australian dollars ($31 million) from the initial 20 million Australian dollars set earlier in mid-February. As reported by Financial Review back in December 2020, the Bitcoin miner secured $19.5 million in equity funding and $3.9 million in debt during its first pre-IPO funding round. Firms …

Blockchain Australia — the industry body for the novel tech in the country — has expelled Qoin, a retail merchant crypto project based in Gold Coast, Queensland. According to a notice of disciplinary action issued on Feb. 19, Blockchain Australia initially served Qoin with a summons to respond on Jan. 29. After the summons, Blockchain Australia expelled the project from its membership ranks. Detailing its decision, the notice reads: “On 17 February 2021, the Board of Blockchain Australia, having considered the Notice and the Response and the circumstances of the matter, resolved, pursuant to the Constitution, to terminate the Member’s …

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 exchange traded product, an MIS, listed on an exchange.” However, ASIC commissioner Cathie Armour told the Senate select committee on financial technology Friday that a Bitcoin ETF is possible, so …

Australia’s eSafety Commissioner Julie Inman Grant has suggested a blockchain-powered ID solution could help tackle cyber abuse and trolling while allowing users to maintain a level of anonymity. Speaking to New South Whales media outlet The Sydney Morning Herald, Grant said that while anonymity was beneficial for general online use, people hiding behind anonymity online to harm others remained a big problem in society. She said blockchain-powered digital IDs could help strike a balance by hiding user’s details unless requested by law enforcement. Inman Grant stated that: “There’s more that they can do in terms of their intellectual capability, their …

Australia’s top national debit infrastructure operator, Efptos, has been announced as the newest member of the Hedera Governing Council. Alongside becoming the 17th council member, Eftpos will also become Hedera’s first network node operator in Australia. Other council members include Google, IBM, Boeing and Deutsche Telekom. While electronic funds transfers at point of sale, or EFTPOS, is a type of payments technology used around the world, it's also the brand of a specific system used for such payments in Australia and New Zealand. Eftpos's CEO, Stephen Benton, described its increasing engagement with Hedera as a core component of its digital …

Allan Flynn, a Bitcoin trader in Australia has filed a complaint against two commercial banks in the country — ANZ and Westpac — accusing both of systematic discrimination. According to a report by the Australian Financial Review, Flynn is seeking compensation to the tune of 250,000 Australian dollars (about $192,000). According to Flynn, he has been the victim of discriminatory practices with banks allegedly continuing to shut down his accounts. Speaking to AFR, Flynn lamented that no fewer than 20 banks have closed accounts operated by his exchange in the last three years, adding: “How am I supposed to run …

Central bank digital currencies have been an integral part of progressive discussions within the cryptocurrency community. CBDCs are virtual representations of the fiat currency of a particular country. They are often based on blockchain technology and are issued and regulated by the official monetary organization of the country. The feature that makes them different from cryptocurrencies like Bitcoin (BTC) and Ether (ETH) is that CBDCs are backed by the central bank’s deposits of the country’s currency and are regulated by the central bank, while cryptocurrencies are not. Cointelegraph discussed with Thomas Trépanier, director of business development for Roxe at Apifiny …

A recently published survey by the cryptocurrency exchange platform Independent Reserve shows nearly 20% of young adults in Australia own virtual currencies in 2020. According to the 2020 edition of the Independent Reserve Cryptocurrency Index (IRCI), Australia’s general crypto sentiment improved significantly compared to 2019. Indeed, figures from the IRCI survey put the 2020 crypto index at 47, a gain of over 10% from its previous value of 42, published in the 2019 report The survey, which covered 1,100 respondents saw across different demographics, saw almost 20% reporting that they owned cryptocurrencies. Participants between the ages of 25 to 44 …

For a country of 25 million people, Australia punches well above its weight both economically and in the world of blockchain. Australians have long been enthusiastic adopters of new technology, from cellphones to smart homes, so it’s little surprise they’ve embraced crypto too. Chainalysis ranks Australia 20th out of 154 countries surveyed this year for its "The 2020 Geography of Cryptocurrency Report," citing favorable regulation that legitimizes the technology as driving "steady growth in adoption." Australian crypto educator Alex Saunders, founder of Nuggets News, said the Australian crypto community encompasses everyone from hardcore Bitcoin (BTC) maximalists to well-known Ethereans and …

A major Bitcoin (BTC) ad scam involving unauthorised images of Australian celebrities who seemingly promoted fake investment schemes is allegedly coming from Russia, according to a new report. Fraudulent Bitcoin ads capitalizing on Australian celebrities like Dick Smith and Andrew Forrest are part of an organized global business that uses at least five addresses in Moscow, an investigation by The Guardian asserts. On Dec. 13, The Guardian published a report providing more details about a major Bitcoin ad scam that has run on news websites since at least 2018. As previously reported, the scam involved fake articles using unauthorised images …