The very nature of cryptocurrencies dictate that regulation, control, and by extension, a centralized system, do not fit in with what they stand for. They are supposed to be totally decentralized, and therefore not dictated by many rules. This made a lot of sense when cryptocurrencies were not in the spotlight and not a major factor on the world stage. However, as mainstream adoption has increased, and as more individuals have entered the market, so has the interest from governments and regulators around the world. This has culminated with the G20 summit sitting down and discussing how to fit this …

The Australian Tax Office will be going after cryptocurrency investors to ensure they are accurately filing their crypto gains on their taxes this year, Business Insider Australia reported Feb. 28. The Australian Tax Office will use data matching and “100-point identification checks" to track down crypto investors, as well as bilateral tax treaties and anti-money laundering commitments to get more information out of the traditionally anonymous crypto sphere and markets. Paul Drum, a member of the National Tax Liaison Group said that this move is a “watershed moment for the ATO” and would “[enable] them to access and thoroughly ­review …

Australian cryptocurrency exchange Bitcoin.com.au has made buying Bitcoin (BTC) and Ethereum (ETH) for fiat possible in more than 1,200 newsstands across Australia starting Thursday, March 1, local news outlet 9Finance reports. Bitcoin.com.au, which has been in operation for around 18 months, describes itself on its website as “one of the first independent Bitcoin exchange networks in Australia.” Today, March 1, is the first time the exchange has offered purchases of ETH, having previously only hosted BTC transactions on its site. Rupert Hackett, CEO of Bitcoin.com.au, sees introducing BTC and ETH for purchase in more in familiar retail environments as a …

Power Ledger, an Australian renewable energy company expects the Blockchain to improve efficiency in the market by enabling peer to peer trading, to make solar panels cheaper. Now it is seeking support through the pre-sale of POWR tokens. The ultimate aim of the POWR token is to enable peer to peer energy trading. Blockchain is becoming a hot topic in the power industry today. For example, Austrian and German energy provider Switch has recently begun accepting Bitcoin for gas and electricity bill payments. Energy trading Excess electricity generated by individuals (say through a solar panel on the rooftop) may be …

The global investigation to discover the true identity of Satoshi Nakamoto seems to have come to an end by pointing out a 44 years old australian IT security business man named Craig Steven Wright. The search for Satoshi Nakamoto has been going on for at least five years now, but the quest is now probably over, after new evidence including blog posts, emails and accounting statements, has been leaked by an anonymous source to tech websites Gizmodo and Wired. Satoshi Nakamoto is the owner of over one million Bitcoins, which, with the price level at time of writing, equals to …

Mike Hearn says the new XT version will include a “bigger blocksize only” branch; Factom raises US$1.1 million in crowdsale; Australian Securities regulator blocks Bitcoin IPO and more top stories for July 23. Hearn: New XT Version Will Include ‘Bigger Blocksize Only’ Branch Bitcoin core developer Mike Hearn has said that the new XT version will include a “bigger blocksize only” branch as a compromise for the blocksize debate. In a Reddit post, Mr. Hearn also mentioned that developers are working on a manifesto that will lay out the principles for future development. Hearn: “Once XT 0.11A is launched (which …

Two of Australia's "big four banks," Westpac Banking Corporation and the Australia and New Zealand Bank Group (ANZ), are trialing Ripple payments for faster and lower-cost cross-border payments. Westpac, which is ahead of ANZ in its intention of integrating Ripple, said it is in the early stages of a proof-of-concept where staff members are testing the system by making small international payments to other countries. Speaking with the Australian Financial Review, Rachel Slade, general manager of global transactional services at Westpac, said that Westpac has been satisfied by the experiment so far noting that integrating Ripple would allow the bank …

Amid a challenging regulatory environment, Australia’s biggest telecoms operator Telstra has indicated it is considering Bitcoin as a future payment method. Head of the company’s digital operations Monty Hamilton made the comments at a global technology conference in Texas in March, Herald Sun reports. Telstra, he said, is keen to keep in touch with consumer trends with the company having integrated PayPal for payment in 2013. “If we see demand from customers these are things we will actively consider,” he stated, adding that “The scale of our customer base is representative of society — we see trends so much earlier.” …

California is discussing a license for businesses in the cryptocurrency sector, leading to fears of a NewYork-style BitLicense proposal. Victoria, Australia to auction off US$7.1 million in bitcoin after a Silk Road dealer has his assets liquidated. Privacy-centric messenger app Wiper pulled from Chinese app store after including Bitcoin payment option, and much more news that happened on March 15. California proposes to ban unlicensed Bitcoin businesses Despite making bitcoins legal for transactions back in 2014, the state of California is now debating the introduction of bill AB 1326, a proposal to ban any unlicensed Bitcoin businesses. Strongly reminiscent of …

Coin Loft finds a workaround to an Australian tax law that had previously meant taxes would be applied to the total value flowing through bitcoin exchanges in the country. Users will now save 10% of value on transactions when using Coin Loft's platform. Digital currency exchange and wallet platform Coin Loft announced yesterday it was no longer to charge the Australian “goods and services” tax upon the total value of BTC transactions on its service. Following a ruling by the Australian tax authorities in 2014, bitcoin has been classified as a separate entity from “money,” and were therefore subject to …

The US Conference of State Bank Supervisors (CSBS) has produced a draft framework for its idea of digital currency regulation, and is now taking 60 days’ worth of public comments. The proposals come under the guise of suggestions, mirroring the organization’s position as a bystander with no direct influence on state policy. Commentators, however, have already likened much of the draft’s content to the New York Department of Financial Services’ BitLicense proposals. The CSBS writes introducing the draft: “After engagement with industry participants, state and federal regulators, and other stakeholders, CSBS recommends that activities involving third party control of virtual …

Sir Richard Branson explains why he endorses the Australian Digital Currency Commerce Association and supports Bitcoin in an op-ed. The founder of Virgin Group Sir Richard Branson, published an op-ed on the Australian Digital Currency Commerce Association's blog, where he expresses his opinion on why he believes in Bitcoin's disruptive potential, and addresses his support to the Australian Digital Currency Commerce Association (ADCCA) for its consistent work on standardizing Bitcoin. "Bitcoin is making considerable waves in the finance sector. I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very …