The recent case of Australian Securities and Investments Commission (ASIC) v Web3 Ventures Pty Ltd [2024] FCA 64 sheds light on the regulatory landscape surrounding crypto-backed financial products. ASIC alleged that Web3 Ventures, trading as Block Earner, had engaged in conduct that required an Australian Financial Services (AFS) license by offering “Access” and “Earner” crypto-backed …
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The Australian government has taken a significant stride towards fostering responsible and innovative artificial intelligence (AI) development with the establishment of a new expert group dedicated to shaping the nation’s AI strategy. Announced by the Minister for Industry and Science, the formation of this group follows the government’s interim response to the Safe and Responsible …
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In response to the evolving challenges posed by the digital landscape, the Australian Capital Territory (ACT) government has introduced new defamation laws aimed at providing stronger protections in the digital world. The Civil Law (Wrongs) Amendment Bill 2024 (Bill) reflects a growing recognition of the need to update legal frameworks to address the complexities of …
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LexisNexis, a leader in legal technology and information solutions in Australia and abroad, has introduced Lexis+ AI, a transformative legal generative artificial intelligence (AI) poised to revolutionise the Australian legal sector. This cutting-edge AI platform represents a significant leap forward in legal technology, promising to reshape how legal professionals conduct research, analyse cases, and deliver …
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In an era where digital connectivity blurs the lines between work and personal life, the concept of the “right to disconnect” has emerged as a crucial topic in Labor rights discussions. Originating in Europe, this notion addresses the need for boundaries between work and personal time, aiming to safeguard employee well-being in the face of …
On 6 February 2024, the Australian Communications and Media Authority (ACMA) introduced a new industry standard, the Telecommunications (Financial Hardship) Industry Standard 2024 (the Standard). The Standard sets out new obligations and rules for telecommunications providers with respect to customers who are experiencing financial hardship (Financial Hardship Customers), replacing those currently in the industry code, …
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The Australian Cyber Security Centre (ACSC), collaborating with various international governmental partners, has released a guidance paper for organisations on the safe and secure use of artificial intelligence (AI) systems. Central to the paper is the recognition of AI’s transformative potential across various sectors. However, harnessing this potential requires a nuanced approach that prioritises responsible …
Standards Australia welcomes the introduction of the International Organization for Standardization’s new ISO/IEC 42001 standard, focusing on Information Technology – Artificial Intelligence Management Systems. This significant development marks a pivotal moment in the global approach to regulating and managing artificial intelligence (AI) technologies. The ISO/IEC 42001 standard establishes guidelines and requirements for organisations in implementing …
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In response to the threat of cybersecurity attacks, the Australian government has proposed a series of legislative reforms aimed at bolstering the nation’s cyber defences and safeguarding its digital infrastructure. The proposed reforms, outlined in a consultation paper, present changes to the Security of Critical Infrastructure Act 2018 (Cth) and represent a proactive step towards …
The Australasian Institute of Judicial Administration has released an updated version of its guide on artificial intelligence (AI) decision-making and the courts. The report factors in new ethical and legal considerations surrounding the use of AI in decision-making by judges. The report highlights the potential benefits of AI in streamlining decision-making processes, particularly in terms …
