Coin Market

Australia outlines crypto regulation plan, promises action on debanking

Published

2 weeks ago

March 21, 2025

Australia’s government, under its ruling center-left Labor Party, has proposed a new crypto framework regulating exchanges under existing financial services laws and has promised to tackle debanking.

It comes ahead of a federal election slated to be held on or before May 17, which current polling shows is shaping up to a dead heat between Prime Minister Anthony Albanese’s Labor and the opposing Coalition led by Peter Dutton.

The Treasury Department said in a March 21 statement that crypto exchanges, custody services and some brokerage firms that trade or store crypto will come under the new laws.

The regime imposes similar compliance requirements as other financial services in the country, such as following rules safeguarding customer assets, obtaining an Australian Financial Services Licence and meeting minimum capital requirements.

Australia’s Treasury says its new crypto regulations have four priorities. Source: Australian Department of the Treasury

In August 2022, the government initiated a series of industry consultations to draft a crypto regulatory framework.

“Our legislative reforms will extend existing financial services laws to key digital asset platforms, but not to all of the digital asset ecosystem,” the Treasury said in its statement.

Small-scale and startup platforms that don’t meet specific size thresholds will be exempt, along with firms that develop blockchain-related software or create digital assets that aren’t financial products.

Payment stablecoins will be treated as a type of stored-value facility under the Government’s Payments Licensing Reforms; however, some stablecoins and wrapped tokens will be exempt.

“Dealing or secondary market trading in these products will be not treated as a dealing activity, and platforms where they are traded will not be treated as operating a market simply because of that trading activity,” the Treasury said.

As part of its crypto agenda, Albanese’s government has also promised to work with Australia’s four largest banks to better understand the extent and nature of de-banking.

There will also be a review into a central bank digital currency and an Enhanced Regulatory Sandbox in 2025, allowing businesses to test new financial products without needing a license.

Albanese’s government intends to release a draft of the legislation for public consultation. However, a change of government could be on the horizon with a looming federal election, a date for which is yet to be called.

Dutton’s center-right Coalition had earlier promised to prioritize crypto regulation if it wins the election.

The latest YouGov poll published on March 20 shows the Coalition and Labor neck in neck for a two-party preferred vote.

The Coalition leads for topline voting intention, while Albanese continues to lead as preferred prime minister. Source: YouGov

Caroline Bowler, the CEO of local crypto exchange BTC Markets, said in a statement shared with Cointelegraph that the areas of reform are sensible and would keep Australia competitive with global peers.

However, she thinks there “will be additional detail required on capital adequacy and custody requirements.”

“We need to ensure that these requirements aren’t overly burdensome for business investment in Australia,” Bowler said.

Kraken Australia’s managing director, Jonathon Miller, said there is an “urgent need for bespoke crypto legislation” to address the existing confusion and uncertainty in the country’s industry.

“We believe that by establishing a clear crypto regulatory framework and mitigating problems like debanking, government can remove the barriers hampering growth in the Australian economy,” he said.

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Coin Market

Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

Published

14 minutes ago

April 3, 2025

Binance co-founder Changpeng “CZ” Zhao donated over half a million dollars worth of crypto to the earthquake disaster relief effort in Thailand and Myanmar, in another testament to the growing utility of blockchain-based emergency charity efforts.

Zhao donated 1,000 BNB (BNB) tokens worth almost $600,000 to the disaster relief funds for the region on March 3, blockchain data shows.

Zhao donates 1,000 BNB. Source: BscScan

“Sent 1000 BNB for the donation for Myanmar and Thailand,” wrote Zhao in an April 3 X post.

The crypto donation comes after Thailand and Myanmar were hit by a 7.7 magnitude earthquake on March 28, causing severe damage to buildings and widespread flooding.

At least 2,719 people have been confirmed dead in Myanmar and 18 in Thailand, with 76 people still unaccounted for, according to the latest figures shared by Reuters.

The $600,000 donation comes nearly a week after Zhao pledged to donate 500 BNB for the relief efforts, an initial commitment that he doubled. Cryptocurrency-based donations have emerged as a significant lifeline for the region, due to banking restrictions caused by damaged infrastructure.

Source: The Giving Block

Crypto donations exceeded $1 billion in 2024, spurred by increasing digital asset valuations and growing crypto regulatory clarity. About 16% of the donations went toward education, while 14% went toward medicine and health-related efforts.

The Giving Block has launched a crypto-based emergency relief effort for Myanmar and Thailand to raise $500,000 for the devastated region.

Source: TheGivingBlock

The organization expects crypto donations to reach $2.5 billion in 2025 on growing crypto wealth generation and increasing adoption due to a more favorable political landscape.

Crypto donations gain traction for emergency relief efforts

Zhao’s donation is a testament to the growing role of cryptocurrency in humanitarian aid, according to Anndy Lian, author and intergovernmental blockchain expert.

“Crypto donations, compared to traditional fiat contributions, offer unique advantages, especially in emergencies,” Lian told Cointelegraph, adding:

“Speed is a key factor—transactions on blockchain networks can settle in minutes, bypassing the delays of banks or intermediaries, which is critical when time saves lives.”

“In disaster-stricken areas like Myanmar or Thailand, where infrastructure might be compromised, crypto can reach recipients directly via digital wallets, no SWIFT codes or wire transfers required,” Lian explained.

Source: Anndy Lian

Lian also donated 44 BNB tokens to the relief efforts in Myanmar and Thailand, a move that was publicly praised by Zhao.

Ethereum co-founder Vitalik Buterin has been known for his crypto donations. In October, Buterin donated over $180,000 in Ether (ETH) to the biotech charity Kanro.

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Bitcoin gets $71K target as tariffs deal rare US business outlook slump

Published

3 hours ago

April 3, 2025

Bitcoin (BTC) faces conditions similar to the 2022 bear market bottom as US business sees “very high risk” to come.

In his latest analysis, Charles Edwards, the founder of quantitative Bitcoin and digital asset fund Capriole Investments, queried when the US would start printing money.

”Higher than expected” US tariffs pressure Bitcoin

Bitcoin reacted noticeably worse than US stocks after President Donald Trump announced worldwide reciprocal trade tariffs on April 2.

BTC/USD fell up to 8.5% on the day, while the S&P 500 managed to end the Wall Street trading session 0.7% higher.

Despite this, Edwards notes that US business expectations reflect the type of uncertainty seen only three times since the turn of the millennium.

“Consider this as tariffs come in higher than expected. The Philly Fed Business Outlook survey is showing expectations today comparable to 2000, 2008 and 2022,” he told X followers.

An accompanying chart showed the Philadelphia Fed’s Business Outlook Survey (BOS) back under 15 for the first time since the start of 2024. Late 2022, meanwhile, was the pit of the most recent crypto bear market when BTC/USD reversed at $15,600.

Philadelphia Fed Business Outlook Survey vs. S&P 500. Source: Charles Edwards/X

In Capriole’s latest market update on March 31, Edwards acknowledged that BOS data can produce unreliable signals over market sentiment but argued that it should not be ignored.

“While no guarantee of the future outlook (this metric does have false signals) this is a data reading we have had before at very high risk zones (year 2000, 2008 and 2022), telling us to keep a very open mind,” he wrote.

“Especially if the tariff war escalates significantly beyond current expectations or corporate margins start to fall.”

For Bitcoin, a key level to watch in the tariff aftermath is $91,000, with Capriole suggesting that US macroeconomic moves would “decide the ultimate technical trend from here.”

“All else equal, a daily close above $91K would be a strong bullish reclaim signal,” the update explained alongside the weekly BTC/USD chart.

“Failing that, a dip into the $71K zone would likely see a sizable bounce.”

BTC/USD 1-day chart (screenshot). Source: Capriole Investments

BTC price focus on US liquidity trend

As Cointelegraph reported, a silver lining for crypto and risk assets could come in the form of increasing global liquidity.

In the US, the Fed has already begun to loosen tight financial policy, with bets on a return to so-called quantitative easing (QE) varying.

“How long until the Powell printer starts humming?” Edwards queried.

M2 money supply, meanwhile, is due for an “influx” — something which has historically spawned major BTC price upside.

“The BIG take-away (the most important observation) is that a big M2 influx is coming. The exact date is less important,” popular analyst Colin Talks Crypto predicted in an X thread this week.

A comparative chart hinted at a potential BTC price rebound by the start of May.

US M2 money supply vs BTC/USD chart. Source: Colin Talks Crypto/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Coin Market

Alabama, Minnesota lawmakers join US states pushing for Bitcoin reserves

Published

3 hours ago

April 3, 2025

Lawmakers in the US states of Minnesota and Alabama filed companion bills to identical existing bills that if passed into law, would allow each state to buy Bitcoin.

The Minnesota Bitcoin Act, or HF 2946, was introduced to the state’s House by Republican Representative Bernie Perryman on April 1, following an identical bill introduced on March 17 by GOP state Senator Jeremy Miller.

Meanwhile, on the same day in Alabama, Republican state Senator Will Barfoot introduced Senate Bill 283, while a bi-partisan group of representatives led by Republican Mike Shaw filed the identical House Bill 482, which allows for the state to invest in crypto, but essentially limits it to Bitcoin (BTC).

Twin Alabama bills don’t explicitly name Bitcoin

Minnesota’s Bitcoin Act would allow the state’s investment board to invest state assets in Bitcoin and other cryptocurrencies and permit state employees to add crypto to retirement accounts.

It would also exempt crypto gains from state income taxes and give residents the option to pay state taxes and fees with Bitcoin.

Source: Bitcoin Laws

The twin Alabama bills don’t explicitly identify Bitcoin, but would limit the state’s crypto investment into assets that have a minimum market value of $750 billion, a criterion that only Bitcoin currently meets.

26 Bitcoin reserve bills now introduced in the US

Introducing identical bills is not uncommon in the US and is typically done to speed up the bicameral legislative process so laws can pass more quickly.

Bills to create a Bitcoin reserve have been introduced in 26 US states, with Arizona currently the closest to passing a law to make one, according to data from the bill tracking website Bitcoin Laws.

Arizona currently leads in the US state Bitcoin reserve race. Source: Bitcoin Laws

Pennsylvania was one of the first US states to introduce a Bitcoin reserve bill, in November 2024. However, the initiative was reportedly eventually rejected, with similar bills also killed in Montana, North Dakota, South Dakota and Wyoming.

Montana, North Dakota, Pennsylvania, South Dakota and Wyoming are the five states thathave rejected Bitcoin reserve initiatives. Source: Bitcoin Laws

According to a March 3 report by Barron’s, “red states” like Montana have faced setbacks to the Bitcoin reserve initiatives amid political confrontations between the Democratic Party and the Republican Party.

Additional reporting by Helen Partz.

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