 |
 |
The Australian Senate has confirmed the date of the final hearing of the Digital Currency Inquiry. Sydney will play host to the third round of testimonies on 7 April. The Economics Committee will then take stock of what they have learnt and release a report on the most appropriate taxation and regulatory approaches to Digital Currencies in Australia.
In big news out of America IBM is considering using the Blockchain technology to create a payments system for major currencies. This is not the only area likely to be changed by Blockchain. I have long been of the belief that Blockchain - which underpins Bitcoin and other Digital Currencies - has the potential to revolutionise many areas such as accounting and the legal profession.
ADCCA continues to advance towards the launch of its constitution. Our proposal of a self-regulatory system for Digital Currencies has been informally dubbed the "Australian Model" by our counterparts in the US, the UK and in other parts of the world. It is my hope this model will be used as the template for other country's regulatory systems in the years to come.
Until next time please have a look at some of the other articles that are making news in our industry.
Yours very sincerely,
Ronald M. Tucker
Chairman ADCCA
Delegate - Bit Trade Australia
|
 |
 |
DIGITAL CURRENCY HEADLINES
|
"Exclusive: IBM Looking at Adopting Bitcoin Technology for Major Currencies"
Seven News | 13 March, 2015 
NEW YORK (Reuters) - International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the "blockchain," to create a digital cash and payment system for major currencies, according to a person familiar with the matter. -Read More-
|
"UK Government to Regulate Bitcoin"
Bitcoin Magazine | 19 March, 2015 
UK Government Funds Research in Digital Fintech and Promotes Firm Regulations In November, the U.K. government launched a call for information on digital currencies, with a focus on their function as a payment method rather than as a speculative investment. -Read More-
|
"Bitcoin Before Australian Senate"
CoinDesk | 4 March, 2015
 Bitcoin evangelist Andreas M Antonopoulos has appeared before the Australian Senate as part of an inquiry into the local treatment of digital currencies. The prominent bitcoin 'guru' made the case for bitcoin, saying that its unique architecture and payment mechanism had important implications for network access, innovation, privacy, individual empowerment, consumer protection and regulation.
-Read More-
|
"US Bank Regulator: Virtual Currencies Could Be 'Revolutionary'"
CoinDesk | 4 March, 2015  The head of an independent US agency within the US Treasury that supervises national banks has issued new statements on virtual currencies and their "potentially revolutionary" impact on banking. In his remarks, Curry referenced the "serious challenges" the banking industry faces from terrorist and criminal organisations, and how he believes they can be combated with strong risk management and anti-money laundering (AML) and BSA compliance. -Read More-
|
"Research Tracks Bitcoin Mining from Hobby to Big Business"
CoinDesk | 5 March, 2015 
Nearly all bitcoin miners have been transferring their rewards within 36 hours of obtaining them, researchers at New York University have found. Luqin Wang and Yong Liu's paper, an analysis on the "evolution" of pool mining, found that less than 1% of miners left their rewards untouched in 2012 and 2013.
|
"Deutsche Bank Veteran Starts Institutional Bitcoin Exchange in Brazil"
New Hampshire state legislature held a pair of hearings earlier this month that focused on how the state could create a means for residents to pay taxes and fees using bitcoin. Popular ideas include everything from the language barrier (limited access to Portuguese bitcoin resources) to past incidents with exchanges (the mystery surrounding Bitcoin Rain). However, the most likely culprit may be a lack of fundamentals in its market, according to one entrepreneur. -Read More-
|
"Ripple Labs Joins Cross-Border Payments Association"
CoinDesk | 5 March, 2015 San Francisco-based Ripple Labs, the startup behind the digital payment network Ripple, has joined the International Payments Framework Association (IFPA). The Association, whose members include the likes of ACH, NACHA and SWIFT, provides rule sets, best practices and guidance on how to improve cross-border payments. -Read More-
|
"Intuit Expands Bitcoin Payment Service to Australia"
CoinDesk | 12 March, 2015 
Financial management specialist Intuit is expanding its PayByCoin product to Australia. Introduced in June, PayByCoin integrates bitcoin into the company's Intuit QuickBooks service, enabling its small business merchant network to accept bitcoin.
|
"Bitcoin Satellites To Ingress Reality"
NEWSBTC | 13 March, 2015

Bitcoin core developer Jeff Garzik's company Dunvegan Space Systems has inked a deal with its partner Deep Space Industries Inc., to put mini satellites into orbit. The idea of providing secure, remote backup of the digital currency's critical data in space was first disclosed nearly a year ago
|
"This Is Why Bitcoin Won't Go Away Anytime Soon"
CNBC | 12 March, 2015

China's craze for bitcoins has been well-documented over the past year, but a new report highlights just how dominant of a player the country is. About 80 percent of bitcoin volume is now driven by the Chinese yuan, according to data from Goldman Sachs.
|
"Ending Counterfeiting with the Blockchain, Bitcoin in Cuba and More"
Coin Telegraph | 15 March, 2015

Block Verify announced on March 6th that they have a partnership with a UK pharmaceutical company to begin ensure the validity of pharmaceuticals using the Blockchain. Block Verify, a blockchain-based anti-counterfeit solution, wants to have a global, positive social impact by using blockchain technology to "make the world more honest."
|
|
|
Chartered Accounts ANZ: Digital Currencies Paper
From barter to Bitcoins, digital currencies have gained our attention and continues to...
|
|
|
STAY CONNECTED
www.adcca.org.au
|
|
|
|
Copyright © 2015 | ADCCA | All rights reserved. Published by the Australian Digital Currency Commerce Association
Editor: Ronald M. Tucker Deputy Editor: Jessica McIntyre
The ADCCA Industry Newsletter reaches a regular audience of over 700+ Industry and Government Leaders, domestically and abroad. This reach includes regulators, parliamentarians, enterprise C-Level executives as well as cross-industry stakeholder participants both at the professional association and emerging FinTech business levels. To learn more about ADCCA or enquire as to Membership opportunities, please contact us via the below:
Our mailing address is:
The ADCCA
PO Box 21122 World Square
Sydney NSW 2002
AUSTRALIA
|
|
|
|