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 …
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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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The Consumer Policy Research Centre (CPRC) has released its “Duped by Design” report that discusses consumer choice manipulation on websites and apps online. Much of modern online content has been tailored and specifically designed to manipulate or deceive consumers into specific thought patterns. This is referred to as dark patterns. Dark patterns prey on consumers’ …
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The Australian Competition and Consumer (ACCC) has instituted proceedings against Airbnb in the Federal Court over misleading user prices. The ACCC has alleged that Airbnb, the popular short-term rental platform, misrepresented prices to Australians by showing US dollar prices whilst on the Australia version of Airbnb. Due to the change in currency price, Australians were …
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Nike Inc has initiated the first non-fungible token (NFT) trademark infringement lawsuit against StockX. NFTs refer to one-of-a-kind digital assets that exist on the blockchain. Unlike other cryptocurrencies such as Bitcoin, each NFT is distinct and cannot be replicated. By existing on the blockchain, NFTs have a proven and recorded ledger of ownership. NFTs first …
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The Federal Court has issued a landmark decision regarding inadequate cybersecurity measures within a corporation. In this case, RI Advice was held to be in breach of the Corporations Act 2011 (Cth) for failing to implement appropriate cybersecurity measures. RI Advice is a financial planning company that has been subject to nine cyber attacks between …
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Mastercard is introducing its new ‘smile to pay’ system whereby consumers can pay with their biometric data. Biometric technology has increasingly become more popular, being used in services such as Apple’s FaceID, Apply Pay, and airport smart gates. To gain a foothold in the biometric market, Mastercard is pushing for its new system where users …
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