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Crypto

Australia steps up crypto regulation, sanctions from October for unlicensed firms

Australia\'s financial regulator has issued a final warning to cryptocurrency firms operating under a temporary regulatory reprieve to move quickly to apply for financial services licences. Firms that need an Australian Financial Services licence must apply for a new licence or seek changes to an existing one by Sept. 30, or face possible sanctions including fines of up to 10 percent of annual revenue. Separate licence categories have additional notification and consultation requirements.

Crypto

Swyftx eyes crypto payments after securing Australian licence

Australian cryptocurrency exchange Swyftx has secured an Australian Financial Services Licence and is pushing to enter the crypto payments business. The licence allows Swyftx to offer derivatives such as crypto options and futures to retail clients, as well as non-cash payment services. The company said it has a foundation to launch payment services for corporate and individual customers, but it does not hold an AFSL covering spot cryptocurrency services.

Crypto

XRP rebound puts spotlight on whale accumulation, Ripple payments network expansion and XRPL tokenisation growth

XRP jumped about 13 percent and briefly reclaimed $1.28, drawing attention to factors behind the rebound. Santiment pointed to improved broader market sentiment and continued accumulation by large holders. It said wallets holding at least 1 million XRP control 74.1 percent of supply and added about 1.53 billion XRP over six months. Ripple’s institutional payments expansion and growing tokenised assets on the XRP Ledger were also highlighted.