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Australia is behind on its treatment of blockchain products, Liberal senator Andrew Bragg has warned, which could drive fintechs to other jurisdictions.

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Digital assets exchange BTC Markets has called for policymakers to update Australia’s “unclear… and outdated” regulation of the domestic cryptocurrency market amid a surge in demand for bitcoin and other assets.

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A former promoter for collapsed cryptocurrency platform BitConnect Australia has been charged following an ASIC investigation.

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The Reserve Bank has teamed with CBA, NAB and Perpetual, as well as blockchain technology provider ConsenSys Software to explore implementing a centralised digital currency.

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A new survey has found around 90 per cent of institutional investors believe pension funds, insurers, family offices and sovereign wealth funds will increase their level of investment in cryptocurrencies during the next five years.

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