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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. ...

Binance, the world’s largest cryptocurrency exchange by trading volume, is a central part of the wider digital asset ecosystem. As such, it is often in the crosshairs of cybercriminals — ranging from the lowliest of script kiddies to state-sponsored and sanctioned outfits like the notorious Lazarus Group. Being in the spotlight does have its disadvantages — particularly amidst the growing mainstream appeal and adoption of cryptocurrencies. However, Binance seems to be holding its own rather well — per a recent annual report, the platform’s security efforts have managed to prevent roughly $4.2 billion in losses for some 2.8 million users in 2024 alone. The 24-page report covers a wide variety of topics pertaining to the exchange and the wider industry, but security was obviously a priority. Finbold has reviewed the report shared with it by the exchange to bring readers a digestible, summarized view of the most important points and developments. ...

Australian Tax Office seeks data from 1.2M crypto users for tax compliance. Cryptocurrencies are classified as taxable assets in Australia and capital gains tax applies. Global crackdown on crypto tax evasion has gained momentum, especially in Canada, Turkey, and the U.S. In a move aimed at enforcing tax compliance within the burgeoning crypto market, the Australian Taxation Office (ATO) is reportedly seeking data from up to 1.2 million crypto currency exchange users. The initiative, detailed in a notice seen by Reuters, underscores the ATO’s efforts to identify individuals who may have neglected their tax obligations related to crypto trading. ATO going after tax evaders The sought-after data includes a range of personal information such as users’ dates of birth, social media account details, and phone numbers, alongside transaction-related specifics like wallet addresses, types of coins traded, and bank account information. This comprehensi...