Last modified on November 21st, 2022 at 5:55 pm
Senator Warren of Massachusetts United States has proposed the Digital Assets Sanctions Compliance Enhancement Bill (Bill) to prevent cryptocurrency companies from conducting business with sanctioned Russian persons. This Bill came as a response to the recent threat of Russia using cryptocurrency to avoid international economic sanctions. Australia, alongside the United States, the European Union, and …
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Last modified on November 21st, 2022 at 6:10 pm
The Federal Court of Australia recently confirmed the wide extraterritorial application of the Privacy Act 1988 (Cth) and the notion of holding personal information without physical presence in Australia. The origin of this decision dates back to the Facebook-Cambridge Analytical scandal in 2018. With the discovery of Facebook’s unethical data harvesting practices, the Australian Information …
The Australian medical regulator announced the new Therapeutic Goods Advertising Code (Code), banning online influencers from receiving any rewards for promoting products. The Code is designed to impart higher ethical standards for advertising health goods online. The health and beauty sector of the internet has been previously dominated by spruiker online influencers on Facebook and …
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With the recent announcement of the Social Media (Anti-Trolling) Bill, online users will be granted the ability to unmask anonymous trolls. In late 2021, the federal government proposed the Social Media (Basic Expectations and Defamation) Bill 2021. This defamation Bill was designed to protect social media users from defamation from other users when engaging on …
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During the 2022 Winter Olympic Games in Beijing, China unveiled its new digital yuan. China has been a strong advocate against cryptocurrency ownership, previously banning the holding of cryptocurrency as well as Bitcoin mining. But at the recent Winter Olympic Games, China debuted its first central bank digital currency. A central bank digital currency is …
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Amidst the political tension in Europe, Russia’s government has announced a plan to regulate cryptocurrency. Previously a stark adversary to cryptocurrency adoption, the Russian government did a complete one-eighty and introduced a set of principles to regulate the digital currency asset class. The report details plans to appoint the central bank as the head overseer …
The Australian Government receives approval from all states and territories to roll out the National Digital ID system. The National Digital ID system is designed to create one-stop shop for Australian people interacting with government services. This would be similar to a MyGov account except it would be verified and used for local state and …
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The Epic Games (Epic) lawsuit saga continues in 2022 with the Federal Court of Australia ordering a stay on proceedings against Google. In late 2020, Epic brought a lawsuit against Apple over anti-competitive and anti-consumer practices. Epic accused Apple of breaching Australian consumer law due to Apple’s restriction on the mobile device marketplace. Apple effectively …
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Australian billionaire Andrew Forrest has launched criminal proceedings against Meta (formerly Facebook) for false cryptocurrency advertisements. Forrest alleged that Meta has breached Australian money laundering laws by permitting misleading cryptocurrency ads that featured images of Forrest to promote scam coins. The case was brought before the Western Australian Magistrates Court whereby Forrest argued that Meta …
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The International Monetary Fund (IMF) recently urged El Salvador to remove Bitcoin as legal tender status from its economy. El Salvador was the first country in the world to adopt Bitcoin as a legal tender on 7 September 2021. This was a monumental event as it saw Bitcoin and cryptocurrency as having real-world utility, albeit …
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