Australian authorities to regulate bitcoin

The Australian Parliament makes a move to control use of cryptocurrency
17 October 2017   940

Within the reform of governmental anti-money laundering and counter-terrorism financing law Australian authorities published a revision of the bill according to which bitcoin exchanges will be strictly controlled by the law. The Senate Legal and Constitutional Affairs Legislation Committee give priority to the regulation of digital currency operators.

The main measures applied to digital currency exchanges include the possibility of imposing civil penalties for operators of digital currency exchange services which are not registered, and enabling chief executive of Australian Transaction Reports and Analysis Centre to expand or narrow the boundaries of the digital currency definition.

AGD informed the committee that this aspect of the bill reflects technological advancements in digital currency. It noted that the current regulatory regime under the AML/CTF Act was designed in 2006 and applies only to an 'e-currency', which is 'backed by a physical thing. It excludes convertible digital currencies, such as Bitcoin, which are backed by a cryptographic algorithm'. 
 

Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017 

The approach of the committee to regulation is supported by an overview of the current legislation in accordance with the recommendations of the Attorney General (AGD). Legal Board called for recommendations on possible exemptions for transactions with a low value of less than $ 1,000 at bitcoin exchanges while The Law Council called imprisonment in connection with aggravating offenses between 2-4 years and even up to 7 years in cases which are extremely severe.

As soon as the committee recommended the bill to be introduced, the new service and register will be designated within six month’s from the adoption of the bill.

Diffusion 2019 to Gather Crypto Hackers in Berlin

World most interesting tokenised protocol teams joined forces to create one of the biggest devconf in the world
20 September 2019   229

19th-20th October 2019, Berlin, one of the IT capitals of the world, will gather representatives of blockchain, AI, IoT and Big Data industries across the globe. 350 developers are going to test their skills, by hacking with 25m+ lines of open source code. Thousand of prizes awaits the winners.

This two-day event will focus on the practical application of open-source distributed ledger technology, smart contracts, machine learning and programmable tokens, to create a new data layer.
 

Diffusion

Diffusion 2019 Attendants
Diffusion 2019 Attendants

The conference will last for two days and is focused on the practical usage of open-source blockchain technology, machine learning, programmable tokens and smart contracts with a goal to create a new data layer. 

If you are not a skilled programmer, you will find what to do, Join panels, chats, workshops. Discuss the latest topics, such as token economics, blockchain for enterprise, AI, deep learning and more. Whether you are a dev, work in IT or tech industry, geek or just interested all that new - this is a place for you. You will be able to discuss things and share knowledge with lead developers, professors, start-upers and CEOs.

Part of Diffusion 2019 Attendants
Part of Diffusion 2019 Attendants

The event will take place at the Factory Berlin.

Hype.Codes team is happy to report that our journalist is going to the Diffusion 2019 too! Anton will provide you, our dear readers, with the freshest news and announces straight from the Factory.

Also, check out the latest conference's partnership with ETHBerlin.

And now the most interesting thing. You will be able to to take part in a hackathon for free!

Apply for free place at Hackaton now!

Not a coder, but still want to attend an event? 

Get your ticket here!