Tax Evasion Spotlighted as Swiss Banks Start Sharing Client Data

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Switzerland has started sharing financial account information with tax authorities in dozens of countries as a way of fighting tax evasion, but Africa, which loses about $60 billion in illicit flows each year, mostly into European banks, is conspicuous by its absence from the deal. Swiss bank accounts have long been stereotyped as enablers of…

Startup Raises $2.5M From Binance to Help Australia’s Airports to Accept Crypto

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Binance, the world’s largest cryptocurrency exchange by daily trading volume, has invested $2.5 million in TravelbyBit, a startup supported by the government of Australia to operate crypto point-of-sale (PoS) systems at the country’s airports. At selected airports including Brisbane, the capital of Queensland, cryptocurrency users will now be able to utilize major digital assets like…

Australian Securities Exchange Probes Conglomerate’s Upcoming ICO For Crypto Exchange

Australian Securities Exchange Probes Conglomerate’s Upcoming ICO For Crypto Exchange

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A Queensland-based investment company has come under the Australian Securities Exchange’s (ASX) radar after seeking over $15 million in an initial coin offering (ICO) for a cryptocurrency exchange. A Suspicious Expansion Earlier this year, Byte Power Group (BPG), a conglomerate with interests in food and beverage, energy and cryptocurrencies, was issued a detailed questionnaire to…

21,000 New Locations Across Canada, Europe, Australia to Purchase Bitcoin Cash

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Netcoins, an over-the-counter (OTC) brokerage and virtual ATM software company, announced this week it was enabling bitcoin cash (BCH) for immediate access purchase. For BCH enthusiasts, that’s 21,000 locations, covering Canada, Europe, and Australia where the decentralized currency is now available. Also read: Square’s Big Week: Crypto Patent, Shares Leap, and Lightning Plug 21,000 New…

Australian Bank Utilizes Ethereum for Cross-Border Shipments

Australian Bank Utilizes Ethereum for Cross-Border Shipments

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A 17-ton, cross-border container of almonds was successfully transported from Australia to Germany utilizing the Ethereum blockchain, in a collaborative move between Commonwealth Bank of Australia (CBA) and five logistics organizations. Augmenting Shipping Systems The development represented one of the first instances of a state-backed shipment facilitating using blockchain technology. Apart from the growing technology,…

IBM Secures $740 Mln Deal to Upgrade Australian Gov’t Data Security with Blockchain

IBM Secures $740 Mln Deal to Upgrade Australian Gov’t Data Security with Blockchain

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Blockchain integration grows more prolific, as companies, educational institutes, and governments realize its solutions to various inefficiencies. IBM signed an A$1 billion (~$740 million) deal with the Australian government to upgrade data security systems using blockchain technology. Estimated $100 Mln In Savings Over Five Years International Business Machines Corp. (IBM) signed a five-year contract to…

Australia Cracks Down on Misleading and Deceptive Initial Coin Offerings

Australia Cracks Down on Misleading and Deceptive Initial Coin Offerings

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Australia’s financial regulator is cracking down on deceptive and misleading initial coin offerings (ICOs), citing “a serious breach of the Australian law.” As a result of the regulator’s inquiries, some issuers have halted their token sales or are modifying their structures. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space ASIC Takes Action Against ICOs…