A Bitcoin and Ethereum exchange-traded fund (ETF) was set to launch in Australia this week but was blocked by an unknown third party broker. To provide Australian consumers with further accessibility to cryptocurrency with regulated risk, Cosmos Asset Management and 21 Shares had planned to unveil Australia’s first spot-backed cryptocurrency ETFs. ETFs are a common …
Author Archives: alanarnott
Last modified on December 3rd, 2022 at 3:31 am
Last modified on December 3rd, 2022 at 3:31 am
APRA release crypto-asset management roadmap
The Australian Prudential Regulation Authority (APRA) has released a crypto-asset risk management expectations and policy roadmap. The roadmap was prepared due to the rapid growth and development of cryptocurrency and blockchain technology. To ensure Australia reaches its full potential as a digital economic leader, APRA has identified preliminary risk management strategies to benefit the crypto-asset …
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Last modified on December 3rd, 2022 at 3:31 am
Critical Infrastructure Protection amendment comes into effect
The Security Legislation Amendment (Critical Infrastructure Protection) Act 2022 (Cth) (SLACIP Act) came into effect on 2 April 2022 to amend the Security of Critical infrastructure Act 2018 (Cth). The SLACIP Act is focused on strengthening security measures in Australia, particularly in terms of technological and data safety in critical infrastructure assets. Critical infrastructure refers …
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Last modified on December 3rd, 2022 at 3:31 am
Artificial intelligence no longer capable of being the inventor of a patent
The Full Federal Court of Australia has overruled the decision that permitted artificial intelligence (AI) as being the inventor of a patent. In July 2021, it was held in Stephen Thaler v Comptroller General of Patents Trade Marks and Designs that AI is capable of being named as an inventor of a patent. This was …
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Last modified on December 3rd, 2022 at 3:32 am
Data collection of Australian athletes needs regulation
The Australian Academy of Science and the University of Western Australia’s Minderoo Tech & Policy Lab has released a discussion paper on sensitive data collected from professional Australian athletes. The discussion paper is focused on professional athletes and the data collected and used by commercial parties over the last decade. Data collected about athletes is …
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Last modified on December 3rd, 2022 at 3:32 am
Digital Economy Strategy update for 2022
To cement Australia’s digital economy, the Australian Government has released an update to its Digital Economy Strategy for 2022. Since the outbreak of COVID-19, the Australian Government has invested more than $3.5B in digital initiatives and has shown no sign of slowing down. The Digital Economy Strategy 2022 update has extended the 2021-22 federal budget …
Last modified on November 21st, 2022 at 5:47 pm
Adequacy of digital platforms’ disinformation report
The Australian Communications and Media Authority (ACMA) has released a report to the government on the adequacy of digital platforms’ disinformation and news quality. As part of the Digital Platforms Inquiry, the Australian government is preparing a voluntary code of practice to address disinformation and misinformation online. This code was launched on 22 February 2021 …
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Last modified on November 21st, 2022 at 5:48 pm
European Union releases report on proposed MiCA Bill
The European Union (EU) published a report by the Economic and Monetary Affairs Committee (ECON) on the upcoming Markets in Crypto-assets Regulation Bill (MiCA Bill). The MiCA Bill was initially announced in 2020 to expand cryptocurrency use to businesses throughout the EU. The MiCA Bill covers a variety of crypto-related topics with mixed reception from …
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Last modified on November 21st, 2022 at 5:49 pm
Australian Parliament amends national security legislation
The Australian Parliament recently amended national security legislation via the National Security Legislation Amendment (Comprehensive Review and Other Measures No.1) Bill to enhance Australia’s security capabilities. The Bill is coming off the back of the Ukraine-Russia conflict and the REDSPICE initiative. REDSPICE is a defensive program that stands for resilience, effects, defence, space, intelligence, cyber, …
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Last modified on November 21st, 2022 at 5:50 pm
ASIC warns social media influencers of potential breach of Corporations Act
The Australian Securities and Investments Commission (ASIC) has published an Information Sheet (INFO 269) warning social media influencers of their potential breach of the Corporations Act 2001 (Cth). INFO 269 is targeted at online personalities who promote or sell financial products and services to their audience. ASIC has been investigating these “finfluencers” since mid-2021 due …
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