Australia Introduces New Consumer Protection Bill for Crypto Platforms
Australia has introduced a new consumer protection bill that officially brings crypto platforms under financial services regulation.
Treasurer Jim Chalmers and Financial Services Minister Daniel Mulino submitted the 2025 Corporations Amendment Bill (Digital Asset Framework) to Parliament on Wednesday. The bill designates the Australian Securities and Investments Commission (ASIC) as the lead regulator and requires crypto exchanges and custody providers to hold an Australian Financial Services Licence.
The framework creates two new product categories: digital asset platforms and tokenized custody platforms. It also enforces standards on asset security, trade execution, and customer order handling.
Low-risk platforms holding under AUD 5,000 per customer and processing less than AUD 10 million annually may qualify for exemptions.
The government states that the bill could generate AUD 24 billion in annual productivity gains, while firms failing to protect client assets could face multi-million-dollar penalties.
Dormant Whale Wallet Activates After Three Years, Sells 200 BTC
A long-dormant whale wallet has moved after nearly three years, selling 200 BTC for approximately 18.35 million USD.
According to Lookonchain, wallet address 1CA98y became active again for the first time since 2023 and unloaded 200 BTC today.
The address originally withdrew 400 BTC from OKX on April 1, 2023, at a price of around 28,432 USD, making the initial withdrawal worth 11.37 million USD.
Based on today’s sale, the whale’s total profit has exceeded 25 million USD, representing a gain of roughly 223 percent.
Alt5 Sigma Fires Acting CEO and COO Amid Fallout From Rwanda Money-Laundering Case
Alt5 Sigma, a company linked to a crypto project associated with the Trump family, has fired its acting CEO Jonathan Hugh and COO Ron Pitters, the firm announced on Wednesday. The company stated that the decision was not related to any specific misconduct.
Alt5 Sigma previously acquired the WLFI digital token in August for 1.5 billion USD from World Liberty Financial. One of its subsidiaries was found guilty of money laundering in Rwanda in May, and a court had ordered the imprisonment of subsidiary head Andre Beauchesne. Alt5 Sigma stated that its board was unaware of the Rwanda case until late August.
The company also suspended former CEO Peter Tassiopoulos in October. According to filings this week, Alt5 Sigma President Tony Isaac will replace Hugh as acting CEO.