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The Australian Federal Police (AFP) has accused Changjiang Currency Exchange of a money laundering scheme. In a press release, the AFP said the operation, codenamed Ironside, resulted from a three-year investigation into the activities of the currency exchange business. Changjiang Currency Exchange operated from multiple locations across Sydney and Melbourne. The company allegedly used sophisticated methods to conceal the origin and destination of the funds, which were linked to various criminal activities, such as drug trafficking, tax evasion, fraud, and money laundering . You might also like: Borroe Australia’s central bank seeks to explore CBDC use The AFP said the business was part of a transnational criminal network that used encrypted communication platforms and cryptocurrency to facilitate the movement of illicit funds across borders. The AFP worked with the Australian Taxation Office, AUSTRAC, the Australian Criminal Intelligence Commission, and international law...

Crypto company representatives have been calling out U.S. regulators for not being able to provide regulatory clarity for years now. Ripple executive Chris Larsen recently highlighted how San Francisco lost “the blockchain capital of the world” title owing to regulatory crackdowns and the stern policies of the government. In fact, he went on to assert that SEC Chair Gensler ‘likes’ lack of clarity. Now, in a recent post on X [formerly Twitter], Coinbase highlighted how the U.S. was an ‘outlier’ and has not been making any progress on the regulatory front. Contrarily, 83% of the G20 members and top financial hubs have made progress, the post revealed. Specifically pointing towards the countries that are the torchbearers at the moment, Coinbase’s post noted, “ Globally, countries are vying to become crypto hubs. Regulatory clarity has emerged in the EU, UAE, China (HK), Singapore, Australia, and Canada, to name a few. “ T...

Simon Callaghan said that efforts need to start on social media and telecommunication channels where most cryptocurrency scams originate. Blockchain Australia’s new CEO, Simon Callaghan, is urging Australia’s banks, the government and the crypto industry to come together to combat rising cryptocurrency scams. Speaking on the final day of Australian Block chain Week in Melbourne on June 30, Callaghan announced the association will now be focused on helping prevent scams that involve crypto , among its other efforts . Simon Callaghan speaking at Australian Blockchain Week on June 30. Source: Cointelegraph “We're going to have to work with the banking sector. We're going to have to work with the government,” the CEO said, stressing the need to protect consumers. Callaghan however noted that scams often originate on social media or through telecommunication channels — noting that policing efforts need to start from the point of first contact: “Crypto is either an exit point or m...

The agency responsible for Australia ’s national disability insurance scheme is waiting to discover if it’s been affected by a Russian-linked ransomware attack that saw hackers demand a $4 million Crypto ransom. Hacker collective APLHV (known also as Blackcat) announced back in April that it had stolen 3.6 terabytes (TB) worth of data from the law firm HWL Ebsworth. As of this month, 1.1TB worth of data has been posted online. According to AusTender contracts, HWL Ebsworth works alongside dozens of government agencies and is currently representing the NDIA in a series of legal appeals that have been brought against it. The agency itself also suffered a breach last year. Court papers reveal how the hackers sent the Crypto ransom to the legal firm via email, however, the first two ransom letters were caught by the company’s anti-spam filters . The firm only reacted to the threat after the dark web post became more widely known and a third email arrived. An NDIA s...

Buying Bitcoin (BTC) in Australia can be done through crypto exchanges, ATMs and by trading with other parties. More and more people are discovering Bitcoin (BTC) and other cryptocurrencies, which is good for the adoption of digital money on the blockchain. Interest in Bitcoin is also growing in Australia and companies are responding positively. For example, there are various ways to buy Bitcoin in Australia. Trading Bitcoin is more than just buying and selling. So, what is the best place to buy Bitcoin and what is the most secure way to store a Bitcoin investment? Discover in this article different ways to buy Bitcoin in Australia, how to trade Bitcoin and the ways to store cryptocurrencies. Various ways to buy Bitcoin in Australia If you like to invest in BTC in Australia, there are several ways you can opt for. The most common way is by buying Bitcoin through a crypto exchange. By connecting a bank account, credit or debit card to the crypto exchange, it becomes easy to convert fi...