CryptoSMSF – Crypto SMSF News, Regulation, Risk and Tax

Fortifying Your Cryptocurrency Holdings: A Comprehensive Guide to Bolstering Digital Asset Security

Understanding Cryptocurrency Security: Safeguarding Your Digital Assets. Learn about blockchain technology, private keys, wallet security, and secure communication protocols. Discover ways to protect your cryptocurrencies from phishing scams and stay updated with software releases. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Invest wisely and seek professional guidance for secure cryptocurrency investments.

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FTX Australia Loses Financial Services Licence

The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence of FTX Australia Pty Ltd (FTX Australia). The cancellation comes after FTX Australia was placed into voluntary administration on 11 November 2022. ASIC suspended FTX Australia’s AFS licence on 14 November 2022, and the suspension was subsequently extended to 24 July 2023.

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National Australia Bank (NAB) joins Australian Banks blocking transfers to Cryptocurrency Exchanges

National Australia Bank (NAB) has announced that it will be blocking transfers to cryptocurrency exchanges, following in the footsteps of other Australian banks including Westpac and the Commonwealth Bank of Australia. The bank cited concerns about the risks associated with cryptocurrency trading, including volatility, fraud, and money laundering.

NAB’s decision is likely to have a significant impact on the Australian cryptocurrency market, making it more difficult for Australians to buy and sell cryptocurrencies. The bank is the largest in Australia by market capitalization, and its decision could push other banks to follow suit.

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Bitcoin Fear and Greed Index – What It Is and How to Use It

The Bitcoin fear and greed index is a tool that measures the market sentiment of Bitcoin investors. It is calculated by using a variety of factors, including volatility, market momentum, social media sentiment, and trading volume. The index ranges from 0 to 100, with 0 indicating extreme fear and 100 indicating extreme greed. A high reading on the index suggests that investors are feeling confident about the future of Bitcoin, while a low reading suggests that investors are feeling fearful. The Bitcoin fear and greed index can be used as a tool to help investors make informed decisions about when to buy and sell Bitcoin.

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