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Showing posts with the label australia

Australian police seize $1.5m in crypto from dark web drug dealer

Australian police have arrested a 25-year-old man for reportedly selling illegal drugs on the dark web. The arrest was made in Adelaide Hills, South Australia. Police also seized crypto assets worth approximately $1.5 million and tens of thousands of dollars in cash. You might also like: FTX founder Sam Bankman-Fried’s trial day 2: Recap Detective Superintendent Adam Rice stated that the drug dealer was laundering money through digital currencies. Additionally, the individual was found to be selling a dangerous drug called “nitazene.” However, the criminal’s identity has not been revealed. Per the report, the police have gathered five kilograms of nitazene, “the largest seized in Australia to date.” “They are highly toxic drugs, similar to fentanyl, but which have never been approved for human consumption and they have [a] huge risk of overdose.”  Detective Superintendent Adam Rice added. The detective stated that...

FTX Australia license revoked nine months after implosion

Regulators in Australia today announced the termination of FTX Australia ’s license to offer financial services in the country nine months after the crypto firm imploded.   The company’s Australian Financial Services (AFS) License, which is required for any Australian company to operate a financial services business, was revoked on July 14. Despite the termination of the license, the Australian Securities and Investment Commission (ASIC) said that FTX may still “provide limited financial services that relate to the termination of existing derivatives with clients.”  The regulator also noted that FTX Australia must remain a member of the Australian Financial Complaints Authority while continuing to compensate retail clients. These conditions are in place until July 12, 2024. Was FTX funded by Chinese capital flight? Read more: Exploring the similarities between crypto exchanges Binance and FTX ASIC had previously announced that it was suspending FTX Australia’s license...