Australia

Crypto / Digital Assets

ANZ Completes First Use Case Test for CBDC Pilot

By Editors | 10/04/2023

ANZ tokenised ACCUs that were purchased by Grollo Carbon Ventures. Settlement occurred using ANZ’s stablecoin, which was backed by pilot CBDC.

Australia Proposes to Improve Superannuation Performance Test

By Editors | 09/04/2023

A review of the YFYS reforms that commenced in September found that the performance can encourage short-termism and discourage.

AML / KYC

AUSTRAC Provides AML/CTF Exemption for CBDC Pilot

By Sanday Chongo Kabange | 07/04/2023

The exemption applies to CBDC issuance, redemption, exchange, custody, storage, transfer, account opening and other areas for the RBA, pilot participants and customers.

Crypto / Digital Assets

‘Genesis’ Darknet Market Sanctioned and Shuttered by Authorities

By Editors | 06/04/2023

Law enforcement arrested 119 people and conducted 208 property searches in connection with Genesis Market, a criminal marketplace believed to be located in Russia.

Australia Proposes Revised Tax Model for Superannuation

By Editors | 05/04/2023

The proposed model will increase the tax rate for earnings from superannuation balances that exceed A$3mn.

Market Infrastructure

Industry Asks ASIC to Lengthen SOFR OIS Implementation Period

By Sanday Chongo Kabange | 04/04/2023

ISDA and AFMA responded to an ASIC proposal to remove OIS contracts referencing USD LIBOR from derivatives clearing requirements and replace them with those referencing SOFR.

AML / KYC

Australia Introduces AML/CTF Amendment Bill to Parliament

By Editors | 04/04/2023

The amendments will strengthen and modernise aspects of Australia’s AML/CTF regime, and assist AUSTRAC in fulfilling its functions.

ACCC Undecided About Authorising ANZ-Suncorp Merger

By Editors | 04/04/2023

The ACCC is calling for further submissions from industry and consumers on how the proposed acquisition may impact competition.

APRA Reviews Data Collection on Access to Bank Branches

By Editors | 04/04/2023

The review is aimed at identifying ways APRA’s Points of Presence data collection can better capture indicators on how banking services are accessed.