DigitalX Expands Its Bitcoin Holdings

With this new acquisition, the company’s total Bitcoin holdings have reached 499.8 BTC. Approximately 306.8 BTC is held directly in its wallets, while the remaining 193 BTC is stored through the ASX-listed DigitalX Bitcoin ETF (BTXX). At current market prices, the total value of these holdings is around $91.3 million.

Additionally, the company’s total digital asset treasury—excluding cash—has surpassed the $100 million threshold, now standing at $104.4 million.

Bitcoin-First Strategy in Action

This latest purchase reflects DigitalX’s ongoing commitment to its Bitcoin-first treasury strategy, reallocating existing digital assets into BTC. Following its previous acquisition of 57.5 BTC on July 18, 2025, the company once again demonstrates its long-term confidence in Bitcoin.

This move also aligns with DigitalX’s broader strategic goals to optimize its portfolio and reinforce its position as a leading institutional-grade Bitcoin investment vehicle on the ASX.

Transparency Through Satoshi-Based Metrics

To further enhance transparency in its reporting, the company has introduced a new metric: Bitcoin per share, measured in Satoshis (Sats). As of July, this figure stands at 33.88 Sats, marking a 58% increase since June 30, 2025.

A Satoshi (Sat) is the smallest unit of Bitcoin, equal to one hundred millionth of a BTC (0.00000001). This metric provides investors with a clearer view of shareholder value directly tied to the company’s Bitcoin holdings.

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Rennick didn’t stop there—he also labeled Bitcoin as a Ponzi scheme, claiming its price will reach $1 million solely because institutions like BlackRock will continue pumping money into a supply-limited asset. “What exactly does it produce?” Rennick asked, answering himself: “Absolutely nothing.”

Bitcoiners Fire Back: ‘You Can’t Eat the Internet Either’

Bitcoin advocates didn’t remain silent. Journalist Laura Shin responded, “You also can’t eat the internet, so do you oppose that too?” while Bitcoin Marathon’s Jimmy Kostro added, “This will age well,” highlighting how outdated and shortsighted Rennick’s comments seemed.

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The Australian Bitcoin Industry Body (ABIB) also issued a formal statement, calling the Senator’s remarks a “deep misunderstanding” of digital assets. “Misunderstanding leads to misrepresentation. And misrepresentation leads to bad policy,” the group warned.

Rennick, however, dismissed the criticism, stating, “It’s pathetic how the Bitcoin community needs reassurance from a politician—the very people they claim they want to be free from.”

Political Attacks on Bitcoin Becoming a Trend

This isn’t an isolated incident. Just weeks ago, Arizona Governor Katie Hobbs vetoed a bill that would have allowed the state to hold Bitcoin in its official reserves, triggering similar outcry. Prominent figures like Anthony Pompliano criticized the decision, asking, “Imagine the ignorance of a politician who thinks they can manage investments.”

As crypto adoption grows globally, so too does the friction between decentralized innovation and traditional political frameworks. And the Bitcoin community appears ready to push back every step of the way.

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Why Was Bitcoin Classified as Money? 

The court stated that Bitcoin exhibits characteristics similar to a currency. For instance, Bitcoin is used as a medium of exchange. It also functions as a unit of account and a store of value. These features supported the court’s decision. Those who wish to purchase goods or services with Bitcoin may be exempt from CGT. This provides a long-term tax advantage. However, the ATO disagrees with this classification. The agency argues that Bitcoin should be treated as an asset. This is particularly significant for long-term Bitcoin investors, as it offers a substantial tax advantage. 

Impact of the Decision on the Crypto Market 

While this decision is seen as a major victory for the cryptocurrency community in Australia, it is not yet final due to the appeal process. On the other hand, if the ATO’s appeal is successful, the current tax regime will continue, and Bitcoin transactions will remain subject to CGT. 

If the appeal process concludes in favor of the ruling, Bitcoin transactions may become exempt from CGT. This could position Australia as a crypto-friendly country. The decision is drawing global attention. For example, countries like Portugal and Singapore offer similar exemptions. The development in Australia may influence other countries. It could also lead to demands for clearer regulations. The outcome of the appeal is of great interest to the market. 

Globally, this decision impacts the taxation policies of other cryptocurrencies. While many countries classify cryptocurrencies as assets, regions like Portugal and Singapore already offer exemptions from capital gains tax. 

Australian Court Another Case Bitcoin

In 2019, during a joint operation by the Australian Federal Police (AFP) and Victoria Police, a raid was conducted on a house in Melbourne as part of a drug trafficking investigation. During the raid, a Trezor hardware wallet containing 81.62 Bitcoin and its seed phrase were discovered. It took three weeks to access the wallet with court permission. However, when access was gained, the wallet was found to be empty, with the Bitcoins transferred four days after the raid on January 29, 2019. 

In 2021, using crypto-tracking software and IP address analysis, it was determined that the transfers were linked to Wheatley. It was alleged that Wheatley transferred the Bitcoin from the wallet to the Binance exchange, with some transactions connected to his bank account. 

During this case, an Australian court classified Bitcoin as “money.” The decision was based on arguments that Bitcoin functions as a medium of exchange, unit of account, and store of value. The court stated that these characteristics make Bitcoin similar to traditional fiat currencies. This means Bitcoin transactions may be exempt from capital gains tax. 

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How Did Telegram Shut Down Haowang Guarantee?  

Telegram banned all Haowang Guarantee accounts, channels, and NFTs. The platform served scammers in Southeast Asia, processing $27 billion in Tether’s USDT. Elliptic’s July 2024 report triggered the operation. Haowang was notorious for money laundering and “pig butchering” scams. Despite signs of fraud and USDT laundering, its groups and channels operated on Telegram for years. Following a Wired investigation exposing the scale of P2P crypto fraud, Haowang lost its Telegram presence.  

The platform stated, “As all our NFTs, channels, and groups were blocked by Telegram on May 13, 2025, Haowang Guarantee will cease operations.”  

Xinbi Guarantee: A New Threat  

Elliptic revealed that Telegram-based Xinbi Guarantee processed $8.4 billion in USDT transactions. Active since 2022, Xinbi saw $1 billion in inflows in 2024. Telegram also deleted Xinbi-linked accounts. However, criminal networks are shifting to new markets like Tudou Guarantee. Experts warn that these shutdowns may not fully resolve the issue. Elliptic’s co-founder Tom Robinson said, “This is a cat-and-mouse game. These are big mice,” noting that crime syndicates may move to new platforms or less-regulated messaging services.  

What Is Telegram Doing Against Crypto Crime?  

Telegram is proactively combating crypto crime, halting Haowang and Xinbi’s combined $35 billion transaction volume. Countries like Australia and Germany are also cracking down on similar platforms. Platform swiftly closes accounts violating its terms of service. However, experts caution that criminals may find new avenues.  

Similarly, Australia blocked over 90 scam platforms, and Germany shut down eXch, linked to the Bybit attack. The fight against crypto crime is intensifying.  

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The country’s national financial intelligence agency has prioritized cryptocurrency for the upcoming year and is forming a task force to take action against crypto ATM providers that may be violating Anti-Money Laundering laws.

In a statement made on December 6, Brendan Thomas, CEO of the Australian Transaction Reports and Analysis Centre (AUSTRAC), stated that the government agency will focus on the cryptocurrency sector in 2025. Brendan Thomas said:

“Cryptocurrency and crypto ATMs are attractive avenues for criminals looking to launder money, as they are widely accessible and make near-instant and irreversible transfers,”
“This is the first step in AUSTRAC’s focus to reduce the criminal use of cryptocurrency in Australia. We will be focusing on this industry over the course of next year.”

According to AUSTRAC, the task force will focus on ensuring that crypto ATM operators meet minimum standards to eliminate the risk of illicit cash passing through the machines.

Leading crypto ATM providers in Australia include Coinflip with 680 ATMs, Localcoin with 465, and Cryptolink with 75. Crypto ATM operators are already required to register with AUSTRAC, monitor transactions, and conduct Know Your Customer (KYC) checks on users.

They are also expected to report suspicious activities and submit threshold transaction reports for cash deposits and withdrawals over $6,500 (10,000 Australian dollars). Thomas stated that any operation failing to comply with regulations “risks facing significant financial penalties.”

He added, “As the use of cryptocurrency increases, so too will criminal exploitation, which is why this task force will work to eliminate non-compliant high-risk operations.” In Australia, penalties for money laundering can include up to 12 years in prison, fines exceeding $100,000, or both. If the value of laundered funds exceeds $644,400, jail sentences can be as long as 25 years, and fines can reach up to $214,585, or both may be applied.

Australia Rising as a Crypto ATM Hub

Australia has become the third-largest hub for Bitcoin and crypto ATMs. According to Coin ATM Radar data, the country now has over 1,302 ATMs, a significant increase from 67 ATMs in August 2022.

AUSTRAC has disclosed that 400 digital currency exchanges are registered, but only a few operate crypto ATMs.

Australia started as a slow market for crypto ATMs, but adoption surged rapidly towards the end of 2022 as private companies entered the market in force.

Australia has the world’s third-largest number of crypto ATMs, behind the US and Canada. Source: Coin ATM Radar

As of April 2023, Australia’s Bitcoin ATM count surpassed that of Asia, which includes major economies such as China, Japan, Singapore, and India.

The US has the most Bitcoin ATMs, with 31,647 machines representing over 81% of the global market. Canada ranks second with 3,022 crypto ATMs, holding 7.8% of the market.

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According to Vakul Talwar, the General Manager of Crypto.com Australia, this move goes beyond just cryptocurrency trading, providing investors with a wide range of investment opportunities in stocks and other asset classes. This step will enable Australian investors to trade on platforms like the Australian Securities Exchange (ASX), the London Stock Exchange, the New York Stock Exchange (NYSE), and Nasdaq.

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Additionally, the company plans to offer products like Contracts for Difference (CFDs) to both individual and institutional investors. Talwar emphasized that the ultimate goal is to integrate traditional financial tools with digital assets to provide investors with comprehensive solutions.

Crypto and Regulatory Landscape in Australia

Cryptocurrencies are legal for trading, spending, and storing in Australia. However, traders are not obligated to accept these assets as a payment method. Since 2022, the government has been working on establishing a framework to regulate the sector.

The Australian Securities and Investments Commission (ASIC) is preparing to mandate crypto exchanges to obtain a financial services license. During this process, Crypto.com has been working closely with regulatory bodies, helping reduce uncertainties in the sector.

Similar Developments in the U.S.

Crypto.com’s expansion strategy is not limited to Australia. On October 31, the company announced the acquisition of Watchdog Capital in the U.S., enabling it to offer stock and stock options to eligible investors.

The acquisition of Fintek by Crypto.com further strengthens the company’s mission of integrating traditional financial products with digital solutions. Australian users will now be able to seamlessly access opportunities within both the traditional finance and crypto ecosystems.

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ANZ wants to test the interoperability of RWAs like commercial papers across blockchains by partnering with blockchain oracle company Chainlink Labs and Singapore-based investment firm ADDX, according a September 30 announcement.

Initiated in 2022 by the Monetary Authority of Singapore, Project Guardian gathers financial sector players and legislators to tokenize RWAs, hence enhancing liquidity and efficiency in the financial markets.

Lead in ANZ’s financial services, Nigel Dobson said the firm was interested in using its A$DC stablecoin—backed by the Australian dollar—to travel more fluidly between blockchains. Using Chainlink’s Cross-Chain Interoperability Protocol (CCIP), said Zach Rynes, Chainlink’s community liaison, ANZ will be able to reach this.

Dobson underlined that present tokenized asset markets are “highly fragmented” and most RWAs cannot be moved across blockchains without an interoperability solution like CCIP, which complicates the integration for financial institutions and inhibits adoption.

Given that ANZ maintains an office in Singapore, Project Guardian will provide local support to the bank Along with DBS Bank, SBI Digital Asset Holdings, and WisdomTree, other significant partners in Project Guardian’s trial programs are S&P Global, Deutsche Bank, and JPMorgan’s blockchain platform Onyx.

Along with the International Monetary Fund, the policymaker group of Project Guardian comprises government agencies from the United Kingdom, Japan, Singapore, Switzerland, and France.

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The Australian Securities and Investments Commission (ASIC) had sued the company over two of Block Earner’s products – Earner and Access. However, ASIC’s press release titled “Court rules Block Earner crypto product needs financial services licence” was published despite the court stating that the Access product did not need a licence. Block Earner claimed this statement was “unfair and misleading” and judge Ian McNeil Jackman accepted the claim.

Warning from judge to ASIC

An Australian judge has ordered the country’s financial regulator to pay some costs and reprimanded it for a “misleading press release” it issued in a legal dispute with crypto-based startup Block Earner.

This warning follows a ruling by judge Ian McNeil Jackman in February, which stated that Block Earner’s yield-generating “Earner” product was unlicensed, but its DeFi “Access” service did not need the same license and could continue to be offered. ASIC sued Block Earner in 2022 over these two products.

Block Earner’s Position in the Case

Jackman ruled that Block Earner should be exempt from paying penalties for its Earner product because the company had honestly attempted to engage with the government regarding the regulation of crypto-related products and services. Following the federal court’s ruling on 9 February, ASIC was ordered to pay costs incurred by Block Earner.

“The court correctly points out that seeking legal advice in an emerging field like crypto will support an argument for immunity from penalty, highlighting that the rules of the legal system are clear and distinct,” said Michael Bacina, President of Blockchain Australia.

“Crypto projects that proceed without appropriate legal advice not only run the risk of their products violating the law, but also remove an argument for immunity from punishment if an innovative product in an unclear area is found to violate the law,” Bacina said.

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And the imminent approval is rightly reinforced the US and Hong Kong regulators, who have already approved respective Bitcoin ETFs. In 2023, two applications by VanEck Australia and BetaShares, one of the local ETF fund managers, are set to receive the stamp of approval, as per insiders interviewed by Bloomberg.

The multitude of the applications for Bitcoin ETFs continues to expand in tandem with the global adoption of Bitcoin highlighted with the U.S Army, where eleven diverse ETFs have managed over $53 billion worth of assets. Justin Arzadon, the head of digital at BetaShares, was positive about Australia’s ability to embrace products. “Even though the considerable inflows into U.S.-based products have not been proof enough [to introduce the products there] , Australia has shown sufficient signs of being ready for such products”.

Experts Predict Billions in Inflows as Demand Surges for Regulated Exposure

CEO of the digital asset management, crypto currency company that is Monochrome – Mr. Jeff Yew – made similar remarks as a matter of fact. He did this by emphasizing Australia’s strong appetite for crypto investments. Yew expects that Bitcoin interest will come from fund managers who want to be in the market and also from SMSF investors, retail traders and pooled super funds managed separately by other managers. He suggested controlled exposure that should be followed immaculately geared to the fact that there is always governed risky workshop of trading in cryptocurrencies on the exchange.

Through an elaborate presentation of current SMSF risks, Yew pointed to the hazards of exchange falling. “According to the Australian Taxation Office, the amount that is in the hands of various crypto exchanges is around a billion dollars, and that is the majority of this from SMSF investors,” he added. Bitcoin ETFs create an entry ticket – for an asset that is safely regulated providing an investor with an access to the digital assets.

Monochrome’s coin minted to provide Bitcoin ETF demonstrates the ability to adapt to the dynamic crypto-regulation in Australia. Shortly after taking the ASX as one of the first applicant, the company had decided to list with Cboe Australia instead mostly due to the faster approval process, transparent listing requirements, and being smaller market exchange. According to the conditions mentioned, ASX may face some troubles. Nevertheless Yew is encouraged that the approval will be conducted in few weeks by the Cboe Australia.

Now that the anticipation is building and the regulatory barriers are clearing, Australia is set to step into the league of Bitcoin ETF adopters, joining with pioneers of the global adoption of digital assets in the country’s financial architecture.

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The program to be implemented with the cooperation will test a global first, where Australian crypto users who enable two-factor identity verification in their crypto accounts will be paid Bitcoin valued at 10 AUD (6.6 USD).

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This application was initiated to coincide with the Australian government’s Fraud Awareness Week (27 November – 1 December). The announcement stated that the trial will test the impact on investment fraud levels by rewarding crypto customers for protecting their accounts and educating themselves on how to avoid fraud.

Two-Factor Identity Verification (2FA) is a security process that requires two identification formats to access resources. This method provides a higher level of security than single-factor processes where the user typically provides a single form of identification, usually a password or passcode.

The first 2000 customers in TRM Labs will be given a reward by Swyftx

The first 2000 customers who activate two-factor identity verification in their accounts and complete a course created with TRM Labs will be given a reward by Swyftx.

According to the announcement, Australians reported losses of 221 million AUD (146 million USD) in cryptocurrencies in 2022, a 162.4% increase from the previous year. This year, Swyftx, prevented 3 million AUD worth of customer funds from going to scammers.

Since the FTX crash, Australia has taken steps to tighten crypto regulations. These steps taken in 2023 included the Australian regulators’ measures against crypto companies like Block Earner and eToro.

Blockchain industry stakeholders have taken a stand against restrictions imposed by local banks on crypto payments; the Commonwealth Bank was one of the platforms that imposed partial restrictions citing fraud.

Binance Australia suspended bank transfer deposit and withdrawal transactions due to the decision of a third-party payment service provider. It appeared as though the Australian government and the Blockchain industry had later reached a consensus.

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