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Transak, a fiat-to-crypto solutions provider, has received its Digital Currency Exchange (DCE) license from the Australian Transaction Reports and Analysis Centre (AUSTRAC), the chief regulatory body of the country’s crypto landscape, according to the reports shared with Finbold on Thursday, March 6. Similar to a Virtual Asset Service Provider (VASP) license in other regions, the registration enables Transak to offer its services as a fully compliant and transparent digital currency exchange in Australia.  G'day Australia! Transak is now approved as a Digital Currency Exchange in Australia! Read more on @DecryptMedia – https://t.co/vG2IudzjRw pic.twitter.com/YMAg8kNch0 — Transak (@Transak) March 6, 2025 Transak’s DCE registration  Primarily, the DCE registration ensures that Transak observes all anti-money laundering (AML) and counter-terrorism financing (CTF) regulations in the country. ...

BRICS member China is rapidly increasing its trade deals with Australia despite having political fallouts for over a decade. The latest data shows that Australia’s trade with China has touched a record high of $145 billion in 2023. This is for the first time the trade between the two countries increased after the COVID-19 pandemic. Before the lockdowns, Australia’s trade with China stood at $168 billion in 2019. Also Read: Russia Makes Major Announcement About BRICS Currency The development indicates that BRICS member China and Australia’s trade deals are recovering from the slump. The recovery in trade between the two countries is particularly driven by iron ore. Australia’s top export from China is iron ore and the metal’s prices are surging following a rebound in services in the travel and tourism sector. Therefore, BRICS member China has an upper hand in supplying iron ore to Australia making trade deals worth billions. Also Read: 21 Coun...

HyperFund founders Lee and Chunga sued for $1.7B crypto scam. Chunga has agreed to a settlement, pending court approval, while Lee faces legal action. Additional charges have been filed by the US Attorney’s Office. The US Securities and Exchange Commission (SEC) has taken decisive legal action against individuals allegedly involved in a crypto currency ‘Ponzi’ scheme worth $1.7 billion, associated with HyperFund, HyperVerse, and HyperTech. The accused individuals are Xue Lee, also known as Sam Lee, and Brenda Chunga, also known as Bitcoin Beautee. They are accused of orchestrating fraudulent scheme s that deceived investors and violated federal securities laws. False membership plans The lawsuit filed by the SEC on January 29, 2024, alleges that Sam Lee and Brenda Chunga engaged in deceptive practices by selling false “membership” plans to investors, promising lucrative returns that never materialized. They purportedly misled ...

However, Binance users in Australia can still facilitate withdrawals and trading by converting AUD to USDT. Users can buy and sell crypto using credit or debit cards or use the Binance P2P marketplace to continue trading their favorite virtual assets. advertisement Binance Suspends AUD Deposits and Withdrawals by Bank Transfer Binance Australia in a tweet on June 1 revealed that AUD deposits and withdrawals by bank transfer are officially halted. After being targeted by US regulators this year, Binance faced regulatory challenges in Australia . Users can still buy and sell crypto using credit or debit cards, as well as using Binance P2P marketplace. Binance assured users that their funds are safe under the Secure Asset Fund for Users (SAFU) insurance fund. Meanwhile, the exchange is also working to find another partner. “We are working hard to find an alternative provider to continue offering AUD deposits and withdrawals to our users.” ...