ICO market collapse triggers M&A

The market for initial coin offerings was close to collapse at the end of last year, as investor support for cryptocurrencies and other digital assets declined sharply. DigitalX, a local company that advises on ICOs and security token offerings, reports…

Token issues puzzle regulators

Policy makers are unsure about how to proceed with the regulation of initial coin offerings, a new Treasury consultation paper concedes. Under current arrangements, ICOs are subject to Australian Consumer Law where the tokens are not classed as financial producers.…

Mining Bitcoin now cost more than it is worth

Bitcoin is now worth less than the cost of ‘mining’ it, according to new research. JP Morgan Chase issued a report estimating that the cost of producing a Bitcoin was around US$4060, compared with the current market price of around…

Crypto bill payment market gathers momentum

The cryptocurrency payments market in Australia is starting to offer a wide range of consumer options, with a payment platform provider securing a securities licence that will allow it to expand its operations. Cryptocurrency payment platform Paid By Coins announced…

ATO updates crypto tax guidance

People who convert cryptocurrency to Australian dollars or other money may be liable to pay capital gains tax, according to new tax guidance issued in July. The Australian Taxation Office updated the information on its website dealing with tax and…

Crypto lender hangs out its shingle

Australia has what is claimed to be its first crypto lender. Helio Lending has launched with high hopes of developing a market with “much potential for growth”. Helio Lending will give holders of cryptocurrency access to fiat funds, without requiring…

Digital currencies finish the year on a low

After trending sideways for most the year in a range between $8000 and $10,000, the price of Bitcoin dropped sharply in November and looks like ending the year around the $5,000 mark. Most of the other major cryptocurrencies have followed…

New cryptocurrency platform enables payments

Blockchain tech company Ivy and cryptocurrency broker HiveEx.com have joined forced to launch a new payment service IvyPay, which allows people to convert their cryptocurrency into ‘fiat’ currency. The IvyPay platform can be used to transfer cryptocurrency into fiat currency…

Crypto exchange launches tax calculator

KPMG and the cryptocurrency exchange operator Independent Reserve have launched an online tool to help digital currency traders and investors get a better understanding of their tax position. Crypto Tax Estimator was developed by KPMG. Available on Independent Reserve’s platform,…

The New Criterion

Tech Mpire (TMP) 8c Nineteenth century US department store magnate John Wanamaker famously said that half of the money he spent on advertising was wasted, but the trouble was he didn’t know which half. The same can be said for…