Australia’s government has ruled out creating a strategic cryptocurrency reserve, despite the US pressing with plans to hold assets like Bitcoin, Ether, XRP, Solana, and Cardano. The Albanese government remains focused on regulating the digital asset sector rather than following the US lead. A spokesperson for the Assistant Treasurer confirmed that efforts are concentrated on developing a clear regulatory framework rather than acquiring crypto.
Meanwhile, the opposition coalition, which could return to power in the upcoming election, has not yet decided whether it would reconsider the decision. Some industry experts believe that while a crypto reserve is an interesting concept, it carries risks due to market volatility and concentration concerns. Others suggest a sovereign wealth fund investing in crypto could be a more viable alternative.
Despite rejecting a national reserve, Australia remains a growing player in the crypto space. Regulators have ramped up oversight, with new anti-money laundering measures and proposed authorisation rules for crypto firms. The country has also become a hub for Bitcoin and crypto ATMs, now ranking third globally with over 1,453 machines.
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Binance has announced it will delist nine stablecoins in the European Economic Area (EEA) on 31 March, as part of its efforts to comply with the Markets in Crypto-Assets Regulation (MiCA). Among the stablecoins being removed are Tether’s USDT and Dai (DAI). Despite the delisting, users will still be able to hold and withdraw these tokens, but they will be unable to use them for other products or services on the platform.
The exchange has assured users that MiCA-compliant stablecoins, like USDC and Eurite (EURI), will remain available. Binance is also encouraging affected users to convert non-compliant stablecoins into MiCA-approved alternatives, or fiat currencies, to continue accessing Binance’s full range of services.
While Binance is still working on obtaining a MiCA licence, the delisting process aligns with regulations that require all non-compliant tokens to be removed by March 2025. However, questions remain about how the platform will handle these assets once the MiCA licence is granted.
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Footballing legend Ronaldinho Gaúcho has launched a new cryptocurrency, Star10 (STAR10), on the BNB Chain, promising exclusive benefits and signed collectables for holders.
The token soared to a $397 million market cap within hours before dropping back to $274 million, drawing immediate scrutiny from analysts and investors. Concerns have been raised over its tokenomics, particularly the 35% insider allocation, with 20% reserved for Ronaldinho himself.
Security experts initially flagged the token as a potential risk, warning that its creator had the power to burn investor assets. However, blockchain security firm SlowMist later confirmed that ownership of the token contract had been renounced, reducing the risk of malicious intervention.
Despite this, the broader meme coin market remains under the spotlight, especially after high-profile failures like Libra (LIBRA), which collapsed after insiders withdrew millions in liquidity.
Regulatory experts warn that investors must be cautious, distinguishing between meme coins as digital collectables and outright scams. With celebrity-backed tokens becoming more common, closer scrutiny of transparency and security is growing, as past failures continue to shake confidence in the sector.
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Eric Trump has warned Wall Street to adapt to the growing crypto movement or risk becoming irrelevant. Speaking on Sunday, he praised his father’s announcement of a Strategic Crypto Reserve (SCR) for the US, calling the timing ‘genius’ and criticising traditional finance. The market responded swiftly, with Bitcoin surging 10% to $94,343 and Ethereum climbing 13%, while altcoins like Cardano and Solana saw massive gains. This move, announced by Donald Trump on Truth Social, confirmed that BTC, ETH, XRP, SOL, and ADA would be at the heart of the reserve.
The SCR aims to elevate the crypto industry, which Trump believes has faced years of attacks from the Biden administration. In his posts, Trump clarified that the reserve would involve active purchases of crypto over time, as opposed to simply holding onto seized assets, a distinction that sparked debate in the crypto community. While many saw the reserve as a positive development, some questioned the inclusion of specific coins like XRP and ADA, and others voiced concerns about the potential destabilising effects on the US dollar.
Despite differing opinions, the announcement has reinvigorated market confidence, with Bitcoin recovering from recent lows. Trump’s upcoming White House Crypto Summit on Friday will likely provide more details on the reserve’s structure, leaving investors eager to see how the move impacts both crypto and traditional finance in the long term.
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A US federal judge has dismissed a fraud lawsuit filed by the Securities and Exchange Commission (SEC) against Richard Heart, the founder of the cryptocurrency platform Hex.
The SEC accused Heart of raising over $1 billion through unregistered offerings and misappropriating investor funds for luxury purchases, including sports cars and a black diamond.
However, the judge ruled that the SEC’s claims lacked a direct link to the United States, as Heart’s activities were primarily directed at a global audience and occurred abroad.
The SEC had also alleged that Heart misled investors with exaggerated claims about potential returns from his Hex token and other crypto projects.
Despite these accusations, the court determined that the transactions, including fund misappropriations, took place outside of US jurisdiction, with no clear evidence of US-based investors being affected.
Heart’s legal team welcomed the ruling, describing it as a significant victory for the cryptocurrency industry. They argued that the decision highlighted the need for clearer regulations surrounding digital assets. The SEC has not yet commented on the ruling.
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The founder of cryptocurrency financial services firm Gotbit has been extradited from Portugal to the United States to face charges of market manipulation and fraud.
Aleksei Andriunin, a 26-year-old Russian national, appeared in a Boston court, where he pleaded not guilty to wire fraud and conspiracy charges. Prosecutors allege his company engaged in sham trading to artificially inflate the value of digital tokens.
Authorities claim that between 2018 and 2024, Gotbit manipulated cryptocurrency trading volumes through a practice known as ‘wash trading’. The FBI’s ‘Operation Token Mirrors‘ played a key role in the investigation, reportedly using its own digital token to detect fraudulent activities.
Gotbit allegedly facilitated wash trades worth millions and profited tens of millions of dollars by boosting the market appeal of cryptocurrencies such as Saitama and Robo Inu.
Andriunin was arrested in Portugal in October when US authorities first announced charges against him and others. His company and two employees in Russia also face legal action, though they have not yet appeared in court.
The case is part of a broader crackdown on fraud in the cryptocurrency sector.
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US states may start holding Bitcoin reserves before the federal government, according to Senator Cynthia Lummis. Speaking at the Bitcoin Investor Week conference in New York, Lummis suggested that individual states are moving faster than Washington in recognising Bitcoin’s strategic value.
Lummis had previously proposed the BITCOIN Act, a bill that would require the US Treasury to gradually accumulate 1 million BTC, mirroring the scale of the country’s gold reserves. While President Trump has signed orders to explore a national Bitcoin stockpile and a sovereign wealth fund, state-level initiatives appear to be progressing more rapidly.
At least 18 states currently have crypto reserve bills under review, with Arizona and Utah nearing approval. Some Democrat-led states may push back, but crypto support is growing across party lines. Coinbase’s US policy manager Ashley Gunn noted that many pro-crypto states do not strictly align with traditional political divisions.
Bitcoin adoption in the US has already surged with the launch of exchange-traded funds (ETFs), but analysts believe a government-backed Bitcoin reserve would be an even bigger milestone. With Bitcoin ETFs now holding over $100 billion worth of BTC, the prospect of states or federal institutions joining the trend could further accelerate adoption.
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More than 600 Russian crypto mining firms and infrastructure operators have now registered with the country’s Federal Tax Service (FTS), according to an official report. This includes 518 miners and 91 other operators, such as hosting services and data centres. By November 2024, all mining firms using over 6,000 kWh of electricity per month will be required to register with the FTS.
Although crypto mining is not yet taxed in Russia, the government is preparing a bill that would impose levies on miners’ incomes. The FTS has also reminded miners using over 6,000 kWh monthly to report the cryptocurrency they have mined, signalling that some have yet to comply.
The registration process has been described as running smoothly, with FTS officials stating that miners signing up would ensure safer operations. The register also requires firms to report detailed information, including their mined crypto, transaction data, and wallet addresses.
Experts estimate that the top Russian crypto mining companies generated over 20 billion rubles in revenue in 2023, amounting to approximately $223.9 million.
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The Swiss National Bank (SNB) has rejected the idea of adding Bitcoin to its reserve assets, with President Martin Schlegel citing concerns over volatility, liquidity, and security risks. He argued that Bitcoin’s price fluctuations make it unsuitable for Switzerland’s monetary policy needs, as reserves must remain highly liquid for rapid deployment.
The stance contradicts efforts by the Swiss Bitcoin think tank 2B4CH, which is pushing for a referendum to mandate Bitcoin as part of the SNB’s reserves. The initiative, launched in late 2023, needs 100,000 signatures by mid-2026 to move forward. Despite growing interest in institutional adoption, Schlegel dismissed Bitcoin as a ‘niche phenomenon’ and insisted it poses no threat to the Swiss franc.
While Switzerland remains hesitant, other countries are embracing Bitcoin reserves. El Salvador continues to accumulate the asset, and the US, Czech Republic, and Hong Kong are considering similar moves. Meanwhile, several US states are introducing legislation to support Bitcoin adoption, even as Switzerland maintains a cautious approach.
Bitcoin is currently trading at around $86,000, with analysts watching key price levels for a potential rally. Despite the SNB’s resistance, Switzerland remains a major hub for crypto innovation, particularly in Lugano, where Bitcoin adoption continues to expand.
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The cryptocurrency market saw a massive $300 billion boost after Donald Trump reaffirmed his commitment to making the US the world’s crypto leader. His latest executive order establishes a national crypto reserve, set to include Bitcoin, Ethereum, XRP, Solana, and Cardano.
Bitcoin surged past $93,000, jumping 8% in a day, while Ethereum climbed 11%. Altcoins rallied even harder—Cardano skyrocketed 66%, Solana rose 20%, and XRP soared 28%, overtaking USDT to become the third-largest cryptocurrency. Despite the market’s enthusiasm, the Crypto Fear & Greed Index remains in the ‘Fear’ zone at 33.
Trump’s plan signals a shift from simply holding Bitcoin to actively building a strategic reserve. While some welcome the move as a push for US dominance in digital assets, others argue government control could destabilise the dollar or become subject to political shifts.
Investors are now eyeing the upcoming crypto summit, where key policy details will be revealed. With expectations high, the market awaits clarity on regulations and the long-term impact of the reserve.
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