Last modified on November 21st, 2022 at 5:35 pm
The High Court of England and Wales has ruled that individuals and entities may now be served legal documents via non-fungible tokens (NFT). Fabrizio D’Aloia, the founder of the Italian online gaming business Micrograme, has been granted permission to sue an unknown individual by sending documents through the blockchain. NFTs took the spotlight during the …
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Last modified on November 21st, 2022 at 5:37 pm
Japan has become the first country in the world to enact a framework regulating the issue, distribution, and use of stablecoins, and protecting users from money laundering. Stablecoins refer to cryptocurrencies that are directly pegged to fiat currency. For example, one USDC reflects one United States dollar. Stablecoins primarily facilitate trading on cryptocurrency exchanges and …
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Last modified on November 21st, 2022 at 5:39 pm
The European Parliament announced the adoption of the Digital Services Act (DSA) and Digital Markets Act (DMA) to address the societal and economic effects of the tech industry in Europe. The DSA sets strict obligations for digital service providers (such as social media companies) to limit the spread of illegal content, online disinformation, and other …
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Last modified on November 21st, 2022 at 5:40 pm
The Australian Competition and Consumer Commission’s (ACCC) Targeting Scams report revealed that Australians lost approximately $2 billion to scams in 2021. The report compiled data from Scamwatch, ReportCyber, 12 financial organisations, and relevant government agencies. The report also revealed that one-third of all victims did not report scams to the ACCC, leaving the total cost …
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Last modified on November 21st, 2022 at 5:41 pm
In early June, a hearing was held in the High Court of Australia to review an appeal from the Full Federal Court concerning the patentability directed to an electronic gambling machine. The hearing involved in the appeal was Commissioner of Patents v Aristocrat Technologies Australia Pty Ltd [2021] FCAFC 202. In the hearing, Aristocrat’s (the …
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Last modified on November 21st, 2022 at 5:42 pm
The Australian Treasury has announced that cryptocurrency will continue to be excluded from foreign currency tax arrangements. This decision came about after the Government of El Salvador granted Bitcoin the status of legal tender, which in turn created some uncertainty with regard to the status of Bitcoin for tax purposes in Australia. As such, the …
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Last modified on November 21st, 2022 at 5:45 pm
Australian users of the Apple App Store and Google Play Store have instituted simultaneous legal proceedings against the tech companies over an alleged breach of the Australian Consumer Law. The lawsuits allege that Apple and Google’s substantial degree of market power in Australia has enabled the companies to force developers to use Apple and Google …
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Last modified on November 21st, 2022 at 5:45 pm
The Australian-based cryptocurrency exchange, BTC Markets, has become the first of its kind to receive a financial services licence. The Australian Financial Services Licence (AFSL) is a licence granted by the Australian Securities and Investments Commission to permit businesses to provide financial services. This is a mandatory practice in traditional finance, particularly where institutions provide …
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The consumer advocacy group CHOICE is referring major retailers such as Bunnings, Kmart, and The Good Guys to the Office of the Australian Information Commissioner (OAIC) over the use of facial recognition technology. CHOICE conducted an analysis of the 25 largest retailers in Australia and discovered that the aforementioned businesses were using facial recognition technology …
Continue reading “OAIC reiterates compliance with privacy laws and facial recognition technology”
It has been revealed that the Australian Border Force (ABF) may have potentially searched over 40,000 devices from foreign travellers in the last five years. The ABF acts as the first point of contact for travellers entering into Australia. ABF inspections are primarily done for national security purposes. Amongst their examinations, the ABF can search …
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