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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.

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.

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.

What is an SMSF Audit?

An SMSF audit is an independent examination of the financial records of an SMSF. The purpose of an SMSF audit is to ensure that the fund’s financial records are accurate and that the fund is complying with all relevant laws and regulations.

All SMSFs are required to have an annual audit. This requirement is set out in the Superannuation Industry (Supervision) Act 1993 (SIS Act). The ATO has the power to disqualify trustees who fail to have their SMSF audited.

Cryptocurrencies Not Covered Under Australian Financial Advice Model – Here’s Why The Australian Government Says You Should Be Cautious

There are a number of reasons why cryptocurrencies are not currently covered under the Australian financial advice model. First, cryptocurrencies are a highly volatile asset class, and their prices can fluctuate wildly. This makes it difficult for financial advisers to provide accurate and reliable advice on cryptocurrencies.

CRNCY

Australian Crypto News & Analysis