UBS Group Nominates Gail Kelly for Board of Directors Election

UBS Group AG has announced its intention to nominate Gail Kelly for election to its Board of Directors at the Annual General Meeting on April 24, 2024. Kelly, a seasoned professional in the financial services industry, is expected to bring her vast leadership experience to the Swiss multinational investment bank and financial services company.Throughout her […]

Confusion Surrounds Australian Cryptocurrency Tax Guidelines

Australia’s new cryptocurrency taxation guidelines have been criticized by an Australian law firm, which suggests that they should be disregarded as they are unclear and essentially worthless. The Australian Tax Office (ATO) released non-binding guidance on November 9, which could impact how investors and traders report their taxes in relation to decentralized finance (DeFi). The […]

CoinW Takes Center Stage at Wiki Finance Expo Sydney, Advocates for Self-Regulation and User Education

CoinW, the world’s leading digital asset exchange, made a significant impact at the Wiki Finance Expo Sydney with a keynote speech delivered by Sonia Shaw, CoinW’s Partner & VP of Partnerships. Shaw’s presentation focused on the challenges and opportunities of centralized exchanges, highlighting three key strategies endorsed by CoinW: self-regulation, a hybrid approach combining decentralized […]

Confusion Surrounds Australian Tax Regulator’s Guidance on Capital Gains Tax for DeFi Transactions

Australia’s tax regulator, the Australian Taxation Office (ATO), has issued new guidance on the taxation of decentralized finance (DeFi) transactions. However, the guidance has left DeFi users confused and uncertain about their tax obligations. The ATO has failed to provide clear answers to questions regarding specific transactions, such as staking Ether on Lido or transferring […]

New Zealand Crypto Exchange Launches NZ Dollar-Pegged Stablecoin in Partnership with Labrys

A partnership between New Zealand crypto exchange Easy Crypto and Australian blockchain development firm Labrys has resulted in the launch of a New Zealand dollar-pegged stablecoin. The stablecoin, called NZDD, is backed 1:1 with cash in trust and regulated by the New Zealand Financial Markets Authority. Initially available on Ethereum, there are plans to expand […]

Cryptocurrency Exchange Dasset Enters Liquidation, Customers Unable to Access Funds

In a surprising turn of events, Dasset, a well-established cryptocurrency exchange based in New Zealand, has announced that it is entering into liquidation. This decision comes as a blow to the exchange’s customers, who are currently unable to access their funds. Reports indicate that some customers have been experiencing difficulties withdrawing their funds for several […]

Australian Tax Office Extends Capital Gains Tax to Wrapped Crypto Tokens, Sparking Controversy

The Australian Taxation Office (ATO) has clarified that it will impose capital gains tax on wrapped tokens and token interactions with decentralized lending protocols. This clarification has come as a major setback to crypto holders in Australia. The ATO had previously outlined crypto capital gains as one of its key focus areas and had mentioned […]

Australian Tax Office Clarifies Tax Treatment of DeFi and Crypto Wrapping

The Australian Taxation Office (ATO) has clarified its stance on the capital gains tax (CGT) treatment of decentralized finance (DeFi) and the wrapping of crypto tokens. The ATO has emphasized its commitment to taxing Australians on capital gains during the wrapping and unwrapping processes. According to the ATO, the wrapped token is not considered the […]

Australian Tax Office Clarifies Capital Gains Tax Treatment for DeFi and Token Wrapping

The Australian Taxation Office (ATO) has provided guidance on the tax treatment of decentralized finance (DeFi) and wrapping crypto tokens. The ATO clarified that Australians will be taxed on capital gains when wrapping and unwrapping tokens. This is part of the ATO’s focus on crypto capital gains, which was outlined in May 2022. The transfer […]