Tagged: asic

Bitmain Debuts Next Generation 7nm ASIC Chip for SHA256 Mining

Bitmain-ASIC-chip

Bitmain Technologies, a China-based consumer-grade ASIC miner, announced on Monday the launch of its next-generation 7nm ASIC chip, BM1397. According to Bitmain, the new chip achieves new feats in performance, chip area and energy efficiency for mining cryptocurrencies such as Bitcoin (BTC) and Bitcoin Cash (BCH),… Read More

Monero Crypto Network Plans Fork to Buck ASIC Miners Once and For All

Fork

Developers of the privacy-cryptocurrency Monero have announced they’ll be “forking” (making code changes to) their network, changes that will reportedly make it impossible for “miners” using powerful ASIC-chip-laden machinery to process transactions on the network, Blockchain Reporter states. The change, which is scheduled to take… Read More

ASX-listed Company, Byte Power Group, Pays Fine to ASIC Following Launch of Crypto Exchange

The Australia Securities and Investment Commission (ASIC) has issued a statement regarding payment of a fine by Byte Power Group Limited. Byte Power, a company that is engaged in diverse businesses such as food and wine and power management, paid ASIC $33,000 after the regulator issued an… Read More

The Global Financial Innovation Network Now Open for Applications

The Global Financial Innovation Network (GFIN) is now open for applications. GFIN is a group of 29 international organisations including the Financial Conduct Authority (FCA) as well as the US Consumer Financial Protection Bureau (CFPB), Monetary Authority of Singapore (MAS), Hong Kong Monetary Authority (HKMA) and… Read More

Australian Securities and Investment Commission Signs Fintech / Regtech Agreement with Luxembourg Commission de Surveillance du Secteur Financier

The Australian Securities and Investments Commission (ASIC) has announced a Fintech and Regtech agreement with the Luxembourg Commission de Surveillance du Secteur Financier (CSSF). This is the second Fintech agreement signed by ASIC today having earlier announced an agreement with the US CFTC. The Agreement… Read More

US CFTC Signs Fintech Agreement with Australian Securities and Investment Commission

The US Commodity Futures Trading Commission (CFTC) and the Australian Securities and Investments Commission (ASIC) have signed a Fintech agreement to support innovations in finance and to share information within their respective jurisdictions. This is the second such agreement for the CFTC, a US regulatory agency… Read More

ASIC Slams Financial Institutions and their Handling of Security Breaches: “A Sad Indictment on the Financial Services Industry”

The Australian Securities & Investment Commission (ASIC) has published its report on security breaches at financial services firms. According to the regulator, financial services firms have failed in their duty to protect their users and to notify them when they fall short of their fiduciary… Read More

Australian Securities and Investment Commission Halts Several Proposed Initial Coin Offerings

The Australian Securities and Investment Commission (ASIC) has issued a statement indicating it has taken action against “misleading Initial Coin Offerings (ICOs) and crypto-asset funds” which have targeted retail investors.  ASIC said it has stopped several ICOs or “token generation events.” These ICOs have been… Read More

Online Lender Prospa Completes ASIC Review of Terms, Updates Lending Agreements as Requested

Ben Lamb

Prospa, a leading online lender to SMEs in Australia, has shared that it has satisfied the a review by the Australian Securities and Investments Commission (ASIC) in relation to Prospa’s small-business contract terms. This past June, Prospa received a letter from ASIC requesting information as… Read More

Bitmain IPO – What it Means for Bitcoin

The recently announced $3 billion Bitmain IPO has left many crypto enthusiasts excited for the possibility of a legitimate publicly-traded crypto business. However, when a company creates an exit for a high margin cash flowing business, it usually indicates diminishing growth or margins.  This could… Read More

ASIC Chair James Shipton Wants Australia to Lead the World in Regtech

In a speech delivered to an Australian Senate Committee meeting last week, James Shipton, Chair of the Australian Securities and Investments Commission (ASIC), told the members Australia can lead the way when it comes to Regtech adoption. Australia has a vibrant Fintech ecosystem that has benefited… Read More

Australian Securities and Investment Commission Issues Inquiries into ICO Issuers to Halt Deceptive Practices

The Australian Securities and Investment Commission (ASIC) has taken action to address misleading or deceptive conduct regarding initial coin offerings (ICOs). ASIC announced it was targeting the sale of digital tokens and is issuing inquiries to ICO issuers and their advisers where they identify conduct or… Read More

Fintech Bridge: Crowd2Fund to Expand into Australia

UK peer to peer lending platform Crowd2Fund is opening an Australian office becoming one the first UK-based companies to utilise the new ‘Fintech Bridge’ between the UK and Australia that was recently announced by both countries. Signed in March, the agreement between the UK Financial… Read More

Australian Government Posts Reasonable Cryptocurrency Tax Obligations

In mid-March, The Government of Australia published tax guidelines for citizens and businesses using cryptocurrencies to invest, make or receive payments. The document, “Tax treatment of cryptocurrencies,” is fairly readable and the compliance procedures outlined quite reasonable. In short: “Our view is that Bitcoin…is an… Read More

Here is the Enhanced Fintech Cooperation Agreement Between the UK FCA and the Australian Securities & Investment Commission

As was announced earlier today (and leaked out earlier this week) the Australian and UK governments have signed an “enhanced cooperation agreement” on Fintech innovation. Under the new agreement the Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA) will continue to… Read More

The Australian Securities & Investment Commission Licenses First Crowd-Sourced Funding Platforms

The Australian Securities and Investments Commission (ASIC) has licensed the first crowdfunding platforms or “crowd-sourced funding (CSF) intermediaries” as it is called in Australia. The licensed platforms follow several prolonged years to create workable rules allowing for companies to raise capital online under the new… Read More

LendingClub Warns Shareholders on Newest Share Exchange Offer by IEG Holdings

  LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has issued a public warning regarding a solicitation by IEG holdings apparently making a tender for LendingClub stock. The LendingClub Board of Directors received a letter from IEG Holdings on January 2nd. This is… Read More

Australian Securities & Investment Commission Publishes Report on Marketplace Lending, Shows Double the Loans

The Australian government and regulatory officials are keenly engaged in fostering the growth of Fintech. Marketplace lending, one of the largest sectors of Fintech, has provided a much needed new source of credit in many countries around the world. Earlier today, the Australian Securities and… Read More

Australian Securities and Investment Commission Partners with Canadian Securities Regulators on Fintech

The Australian Securities and Investment Commission (ASIC) has signed a cooperation agreement with the Canadian Securities Administrators (CSA) to foster Fintech innovation, expand the network of information sharing and support Fintech startups. ASIC previously signed a bilateral cooperation agreement with the Ontario Securities Commission which… Read More

Australian Securities & Investment Commission Reviews Regulatory Sandbox & Proposes to Retain Fintech Licensing Exemption

The Australian Securities and Investment Commission (ASIC) had previously committed to review its regulatory sandbox and Fintech licensing exemption and upon review, officials have proposed to maintain the current status. The regulatory Fintech sandbox was introduced in December 2016 and enables eligible firms to test… Read More

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