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australia Crypto License
An australian Financial Services (AFS) licence allows holders to: Offer financial product advice Deal in financial products Operate financial markets and schemes Provide custodial, depository, trustee, crowd-funding, claims handling, and superannuation trustee services ASIC evaluates AFS licence applications by assessing the applicant's competence, financial resources, and ability ...
Path: Licensingaustralian securities and investments commission proposes CFD restrictions and binary options ban
...ct for difference between the opening and closing price of an asset, for example, the movement in a share price of a listed company or currency fluctuations.** The imposed restrictions are a result of the regulator's concerns about the loses that australian retail investors have received and will continue to receive from binary options and CFDs. In the sense of CFDs, much like the European S...
Path: Blog5 signs of booming blockchain innovation in australia
australia. Plenty of images come to mind when we think of the land down under. Sun-bleached surfers, wallabies, the Sydney Opera House. But, australia, despite its modest population of 23 million, is more than just a faraway tourist destination. The home of kangaroos, koalas, AC/DC, and vegemite is well on its way to becoming a world leader in the blockchain space. Here are at least five signs of...
Path: BlogThe new identification system for australian directors
The Government of australia is moving towards improving the efficiency of australian business and the accountability of directors running businesses by implementing special identification numbers for directors. Proposed law amends the Corporations Act and the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI) to initiate a **director identification number (DIN) requirement*...
Path: BlogAn upcoming new trade agreement between australia and Indonesia
Indonesia and australia have announced the conclusion of negotiations on the matters of a new trade deal that will have a major impact on the economics of both countries. One of australian representatives said that **relations between australia and Indonesia would be greatly improved** by signing of the new agreement. Indonesian President Joko Widodo and australian Prime Minister Scott Morriso...
Path: Blogaustralia is planning to implement blockchain technology in order to automate transaction reporting
**The australian Transaction Reports and Analysis Centre (AUSTRAC) currently is testing a blockchain prototype with a goal of funds transfer automation.** ZDNet reported this Sunday that the AUSTRAC has partnered with the Swinburne University of Technology in Melbourne for the purpose of building a model for testing. The aforementioned associates will particularly test how blockchain and rela...
Path: Blogaustralia adopted a new product intervention law
Under the new law, the australian Securities and Investments Commission (ASIC) is gaining the same powers ESMA has in Europe, but it might be limited in using those for the next two years. The Design and Distribution Obligations and Product Intervention Powers Bill or simply Treasury Laws Amendment has recently passed both houses of australian Parliament. **A new bill is going to essential...
Path: Blogaustralian commision requires each and every piece of information about its brokers
**One week ago, australian Securities and Investments Commission (ASIC), in accordance with the new Product Intervention Law, was granted with a set of ‘tools’ that can be applied if brokers offer their products to wrong customers.** ASIC has already started to actively use its new powers. The regulator has issued a data collection notice to brokers, requiring a great deal of information...
Path: BlogA raising trend of investment scams in australia
**Scamwatch**, an organization operated by the australian Competition and Consumer Commission (ACCC), recently released a report stating that **investment scams in australia are becoming ever more frequent**. In the mid of June, from 18/06/2018 to 24/06/2018, the **top scams that targeted australians were Investment schemes**. In the course of these fraudulent schemes, australians reported lo...
Path: BlogASIC’s strengthens consumer protections by reducing CFD leverage
Recently the australian Securities and Investments Commission (ASIC) announced a product intervention order which included restrictions on selling contracts for difference (CFDs) to retail clients, saying it was still concerned about investor protection. This came after the australian parliament granted ASIC product intervention powers, similar to those exercised by the European Securities and Ma...
Path: BlogForex Markets Related Regulations After Pandemic
...h quarter of 2020. As such, Commission do not expect any additional regulation in the medium term but rather enhanced supervision and guidance in the form of Guidelines, Circulars within the existing regulatory framework. In August last year, the australian Securities and Investment s Commission (ASIC) revealed its consultation paper which introduced to ban binary options and place leverage res...
Path: BlogASIC implements new rules for issuers of CFDs
**The australian financial regulator has implemented new regulation for wholesale clients and excluded the ‘price and value test’ for issuers of CFDs.** The test is applied by CFD issuers when classifying customers as wholesale clients. Specifically, the ‘price and value’ test is set in s 761G(7)(a) of the Corporations Act 2001 (Cth) and allows to classify clients as wholesale where th...
Path: BlogStarting offshore business in Vanuatu
*Vanuatu is a popular offshore jurisdiction situated near australia. Why is this country considered as one of the friendliest locations for starting up the company? We will answer most popular questions about Vanuatu offshore company formation and give you a professional advice.* **What are the benefits of doing business in Vanuatu?** Banking system is one of the most important arguments in ...
Path: BlogSWIFT facilitates instant cross-border payments
...fers (FAST) – the fastest payment was delivered in 13 seconds. Participants of this trial, including 17 banks located in seven different countries, were able to settle payments between all continents within 25 seconds. The New Payments Platform in australia settled payments between australia and China in just 18 seconds. As part of the testing, a payment coming from Singapore, processed via Germ...
Path: BlogA new license assessment procedure will be adopted for certain AFS applicants
The australian Securities & Investments Commission (ASIC) has recently adopted a new approach to its financial services licensing procedures (AFS) for certain applicants. ASIC has also released an actual guideline in this regard. Warren Day, ASIC Executive Director said the following: *"ASIC has reviewed the AFS license assessment processes and has streamlined its assessment processes in so...
Path: BlogNew anti-money laundering rules for crypto exchanges in Norway
...vide information about the purpose of a transaction and/or the origin of funds. Service providers will have to report suspicious transactions to the FSA. It is worth noting that there are identical rules for digital currency exchange platforms in australia. These businesses are required to comply with a range of AML/CTF requirements, including: • Implementing and maintaining an AML/CTF pro...
Path: BlogWorld Bank launches first global blockchain bond-i and raises AU$110 million
...ime that investors have supported the World Bank’s development activities in a transaction that is fully managed using the blockchain technology, as was stated in press release of the World Bank. **The World Bank authorized Commonwealth Bank of australia (CBA) as arranger for the bond** at the beginning of August 2018. The authorization statement was followed by a two-week consultation interv...
Path: BlogSFC Forewarns Retail FX Brokers To Stay Away From Doing Business In China
...mediately review the legality of their activities under Mainland law and regulations. Any non-compliant activities should be discontinued immediately and be notified to the SFC. The SFC’s statement was remarkably similar to warnings issued by the australian Securities and Investments Commission during the past months. Read our blog to keep abreast of all **actual and interesting forex news**...
Path: BlogVanuatu International Business Company Formation
...ithin 5 working days + delivery time for the courier Minimum paid up capital: No minimum capital requirement Overview Vanuatu, officially the Republic of Vanuatu, is an archipelago in the South Pacific Ocean, east of australia west of Fiji and North of New Zealand, consisting of a chain of 13 principal and many smaller islands. When it comes to offshore bus...
Path: CompaniesMarshall Islands International Business Company Formation
...orking hours + delivery time for the courier Minimum paid up capital: No minimum capital requirement Overview The Republic of Marshall Islands (RMI) is an island country located approximately midway between Hawaii and australia in North Pacific Ocean. The state has modern and stable business environment with flexible jurisdiction and is politically stable. The curre...
Path: CompaniesVanuatu Dealer's in Securities License
... Minimum paid up capital: No minimum capital requirement. Instead, government bond of approx. USD 50 000 is used. Overview Vanuatu, officially the Republic of Vanuatu, is an archipelago in the South Pacific Ocean, east of australia west of Fiji and North of New Zealand, consisting of a chain of 13 principals and many smaller islands. To obtain a license it is requi...
Path: Licensing