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Commonwealth Bank Brings Cryptocurrency Trading In-App To A Halt After Serious Market Volatility Australia’s largest bank has decided it will pause its rollout of its app-based trading of digital currencies such as Bitcoin and Ethereum pending further regulation.   The multinational corporation has also sought to pause all testing features, preventing any cryptocurrency sales on its app amid the current cryptocurrency market downturn and uncertainty.     Following strong demand, Commonwealth Bank in November, 2021, announced that it...
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ATO Takes Aim At Cryptocurrency Gains For Tax Time 2022 The Australian Tax Office (ATO) has released its four priorities come tax time at the end of this financial year, honing in on four key focus areas, including record-keeping, work-related expenses, rental property income and deductions, but most importantly, capital gains from cryptocurrency assets, property, and shares.   An entire publication on these four priorities for the ATO this tax time can be read here.    It has...
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LUNA Spectacularly Tanks As UST Fails to Re-Peg TerraUSD (UST), a digital token with a once $16 billion market capitalisation that is designed to maintain a 1:1 peg with the dollar, known as a stablecoin, nosedived over the past 36 hours.    Its price fell below $0.65, before somewhat recovering to $0.93 as yesterday before tumbling to as low as $0.59 as of writing. In other words, UST failed dramatically at the one thing that it was supposed...
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Australian Exchange Swyftx Launches ‘Earn’, Allowing Users To Earn High Yield on Cryptocurrencies With No Lock-Ins Swyftx, one of Australia’s most popular cryptocurrency exchanges, is set to innovate Australia’s markets by offering their new product ‘Earn’, which offers interest-bearing yields on a wide range of cryptocurrency assets. They will be the first Australian-operated centralised cryptocurrency exchange to do so.   In doing so, Australian and New Zealand residents have the ability to earn interest on 21 different digital...
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Elon Musk grabs big-name investors such as Binance, eyes Twitter’s temporary CEO role after takeover Over the last 24 hours, 19 different parties have put forward $7.1 billion in commitments to help finance Elon Musk’s $44 billion takeover of one of the world’s most popular social media platforms, Twitter.    As a result, it is expected that Musk will become Twitter’s temporary CEO once the takeover of the social media firm is official according to an individual familiar...
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