Australia cracks down on cryptocurrency irregularities: Harsh punishments for offenders

 In response to the recent increase in cryptocurrency hacks and other crypto irregularities, the Australian government has become increasingly stringent. According to recent research, those found to be breaking fiat currency regulations face harsher penalties than those found to be breaking cryptocurrency regulations.

From 2013 to 2022, 59 criminal cases involving Bitcoin (BTC) and other digital assets were examined by RMIT University in Melbourne. Eighty percent of these cases were linked to drug trafficking, while the remaining cases were linked to money laundering, according to the study's findings.

As indicated by a concentrate by Free Save, in excess of a fourth of Australians, as of the finish of 2022, were clutching their digital currency resources (HODLers). The concentrate additionally uncovered that more youthful ages were more keen on this resource class, with 40% of respondents matured somewhere in the range of 25 and 34 having an openness to cryptographic money. However, those over the age of 65 showed less enthusiasm, with less than 10% of their assets invested in cryptocurrencies.

The study found that 90.8% of participants in Australia were aware of cryptocurrency, with Bitcoin being the most well-known digital currency. With 43% of respondents having some knowledge of it, Ethereum came in second place as the most well-known digital asset. Dogecoin (DOGE), Cardano (ADA), Ripple (XRP), Solana (SOL), and Tether (USDT) are all other well-known cryptocurrencies.

With a fourth of Aussies being HODLers and more youthful ages showing more openness to this resource class, obviously crypto is turning into a critical player in the monetary world. The widespread interest in cryptocurrencies like Bitcoin and Ethereum is further evidence that this trend will continue.

Previous Post Next Post