Australia

A sobering report from the Australian Securities and Investments Commission (ASIC), released this morning, highlights a massive spike in sophisticated trading scams targeting younger demographics.

The bankrupt FTX exchange owes billions of dollars to its users, who have now become creditors. However, the lawyers give rather gloomy forecasts and explain that they will have to wait for decades to be reimbursed.

Football fans worldwide take so much pride in the sporting experience. It's essentially a period where families spend quality time together. Given this, Football clubs are always on the lookout for new and improved ways of making the matchday experience exciting.

A professional baseball team from Australia, Perth Heat, announced on November 17 that they will remunerate their players and employees using bitcoin.

The Reserve Bank of Australia (RBA) has advertised a position for a digital currency specialist. This is in line with the RBA's strategic plan to promote and support the development of payments in the country.

It seems that cryptocurrency and bitcoin debit cards are becoming popular worldwide. Visa Inc. a giant payment and financial services company with $81 billion in total assets, has launched a bitcoin debit card in Australia and it is expected to go live in September.

The Australian government is working its way from traditional to blockchain technology. The Morrison government keeps pouring funds into blockchain research. On July 13, it announced fresh funding of AU $5.6 million, about $4.2 million to support the two mega blockchain pilot projects that will put Australia on the path to blockchain development.

Australia is investing huge sums of money to support blockchain innovations in the country.

Traders and investors dealing in digital currency businesses are facing serious harassment from banks.