News updates December 09, 2021

1. Australia, government opens up to cryptocurrencies

Jane Hume, a member of the government and Australia’s Minister for the Digital Economy, was the first to open up the cryptocurrency market in the country in recent days.

2. Crypto Tokens Should Be Recognized As Securities: CII

The Confederation of Indian Industries (CII) proposed on Thursday that the government classify crypto tokens as ‘special-class securities.

The cryptocurrency market is booming, and its value is reaching high. Nowadays, anybody with a computer and internet connection can start trading cryptocurrencies on the internet. Blockchain technology has made it possible for anybody to start their cryptocurrency and prosper.

3. Australia Presents New Crypto-Related Legislation

Australia’s Parliament is considering new legislation to regulate the digital currency market.

Australia will license cryptocurrency exchanges and think about making a digital retail currency for the central bank as part of the most significant overhaul of its payments industry in four decades

The New laws will also cover payment providers like Apple and Google and buy-now-pay-later providers like Afterpay. This means that they will no longer run their businesses without direct supervision.

4. Mike Novogratz Expects Bitcoin to Stay Above $42,000

Galaxy Digital CEO Mike Novogratz believes that the price of Bitcoin is not going to fall below $40,000.