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Highlights
- Australian Treasurer Josh Frydenberg has announced a payment and cryptocurrency asset "reform plan"
- Craig Wright, who has been publicly claiming to be Bitcoin’s anonymous creator since 2016, will retain 1.1 million Bitcoin, worth US$54 billion.
- Layer one smart contract crypto, Tezos (XTC), has experienced a more than 70 percent rally since December 3.
Australian Crypto Reforms
Australia will be at the front of the pack when it comes to cryptocurrency, according to Australian Treasurer Josh Frydenberg, who has announced a payment and cryptocurrency asset "reform plan".
Australian Treasurer Announces Crypto Reform Plan
Frydenberg plans to talk at the Australian-Israel Chamber of Commerce (AICC) today, where he’ll say that the planned reforms represent the biggest changes to the Australian payment system in 25 years.
Frydenberg joins fellow Liberal Senator Jane Hume, who recently spoke on the importance of cryptocurrency in Australia’s economic future.
Frydenberg plans to tell the AICC that Australia has the potential to be among the leading countries in leveraging blockchain and crypto technology.
Additionally, next year, the Treasurer plans to begin talks on making it mandatory for digital currency exchanges to have licenses to regulate the exchange of cryptos better.
The call for tighter regulation of the crypto space has reared its head again recently after two Australian crypto exchange platforms collapsed within the space of two months, leaving its customers thousands of dollars out of pocket.
Man who claims to be “Satoshi Nakamoto” wins billions of dollars worth of cryptocurrency
The Australian computer scientist who has claimed to be “Satoshi Nakamoto” – the pseudonym of Bitcoin’s blockchain technology creator - has won a court case allowing him to keep billions of dollars’ worth of cryptocurrency.
Craig Wright, who has been publicly claiming to be Bitcoin’s anonymous creator since 2016, will retain 1.1 million Bitcoin worth US$54 billion.
The court case involved the plaintiff, Dave Kleiman, who sued Mr. Wright, claiming that his brother, Ira Kleiman, had helped co-create Bitcoin’s blockchain along with Wright.
The jury rejected the claims that Kleiman was owed half the assets and cleared Mr. Wright on nearly all issues brought by the family of Mr Kleiman.
However, while this might sound like a horrible day for the Kleiman family, Wright will still have to pay them US$100 million for intellectual property infringement. Not a bad consolation prize. You know there’s a lot of money in Bitcoin when the court case losers get one hundred million dollars.
Altcoin News
Layer one smart contract crypto, Tezos (XTC), has experienced a more than 70 percent rally since December 3.
Tezos’ recent recovery is due, in part, to the launch of Ubisoft NFTs on the Tezos blockchain.
Ubisoft, a gaming company, is launching Ubisoft Quartz on Tezos’ blockchain – where users can purchase NFTs called “Digits”.
One of the biggest drivers of cryptocurrency this year has been blockchain-based gaming, which has really taken a front seat since Meta CEO, Mark Zuckerberg’s Facebook Metaverse announcement in November. This announcement has boosted the stock of many gaming-related cryptos, which, thanks to its partnership with Ubisoft, has benefited Tezos. Tezos’s XTC is currently valued at US$5.58.
