Digital Economy Council of Australia (DECA)

During Blockchain Week 2024, we announced that Blockchain Australia would transition to the Digital Economy Council of Australia (DECA). This evolution recognises the foundational role of Blockchain, Distributed Ledger Technology (DLT), and digital assets in driving Australia's digital economy and our commitment to supporting and advocating for members and businesses harnessing these transformative technologies. As we approach the official launch of DECA in the coming weeks, members will notice updates across our platforms, collateral, and events and we encourage you to stay tuned for more information as we engage directly with you.

Congratulations on this remarkable achievement to our DECA member Redbelly Network 👏👏👏

Join us at the Global Digital Asset Regulatory Summit 2024 for a deep dive into the world of digital asset regulation for industry leaders worldwide. Gain insights into the regulatory environments in different jurisdictions, discover innovative solutions and opportunities for growth in the digital asset sector, and learn why navigating regulatory frameworks is crucial for financial success. Don't miss this chance to connect with thought leaders and policymakers in the digital economy summit. Secure your spot now for an educational experience that will shape the future of digital assets. https://lnkd.in/gty86F8K #DARSummit2024 #DigitalAssets #Regulation #Innovation.

The Federal Court ruled on Friday that Bit Trade Pty Ltd, the operator of the Kraken crypto exchange in Australia, failed to comply with design and distribution obligations when offering a margin trading product to Australian customers. The design and distribution obligations (DDO) require firms to design financial products that meet the needs of consumers, and to distribute those products in a targeted manner. A Kraken spokesperson said that while they were “disappointed by today’s ruling,” they are fully “prepared and willing to comply with the court’s decision.” As an industry body, we acknowledge the evolving nature of digital assets and the challenges they present in applying traditional regulatory standards. This decision underscores the necessity for ongoing dialogue between regulators, industry participants, and stakeholders to ensure that Australia's regulatory environment fosters innovation while safeguarding the interests of consumers. We remain committed to supporting our members in navigating these complexities and advocating for a regulatory approach that promotes both growth and compliance in the digital asset sector. ASIC Information Sheet 225: Crypto Assets (INFO 225), will be updated in the coming weeks and currently provides guidance on the circumstances in which a crypto-related offering may be a financial product. ASIC Media Release: https://lnkd.in/gxRKmtNg

The ASIC Corporate Plan 2024-25 was released today and outlines the projects they will undertake to deliver on their mandate. The plan can be found in its entirety here: https://lnkd.in/ge2yjjc7 ASIC is sharpening its focus on digital capabilities, with a significant investment in data and technology to position itself as a leading digitally enabled and data-informed regulator. Some key activities include: ▪️Monitoring Digital Assets, Tokenisation, and Decentralised Finance: ASIC will create a central coordination function to monitor and engage entities on digital assets, tokenisation and decentralised finance. The expected timeframe for this activity is 2 years . ▪️Addressing Technology-Enabled Scams and Misconduct: ASIC will continue to disrupt online investment scams, building on previous efforts such as the takedown of scam websites. ASIC's work will include adding unlicensed entities to alert lists and publishing findings on scam practices by non-major banks and superannuation trustees. ▪️Surveillance and Compliance: ASIC's enforcement and compliance activities will include monitoring the conduct of financial market infrastructure providers. Additionally, ASIC will supervise how investment managers and financial advisers manage the risks associated with using offshore service providers, with a focus on technology, data sharing, and privacy.

The Digital Economy Council of Australia (DECA) proudly welcomes XinFin Powering XDC Network as a Foundational Partner! 🌐 XDC Network, a global #DLT blockchain leader in trade finance, real world asset tokenisation, supply chain management, and cross-border payments, is now part of our mission to drive Australia’s digital transformation. With their expertise, we’ll enhance collaboration, innovation, and solidify Australia’s leadership in the global digital economy. Sean White, Head of Ecosystem & Business Development in Australia for #XDCNetwork, shared his enthusiasm for this collaboration: "Partnering with DECA, a leader in powering Australia’s emerging Digital Economy, was a natural choice. The XDC Network has established itself as a global Layer 1 EVM DLT cornerstone in Web3 infrastructure, enabling the principles of decentralisation, representation, and democratisation to scale meaningfully and reliably, either as a complement—or as an alternative—to legacy systems and approaches. This marks an exciting chapter for XDC in Australia. I am eager to witness the impact we will make together, both in inspiring the local, digitalising ecosystem—and by the waves of innovation that we might send across the globe—in this Foundational year." We’re thrilled about this partnership and the incredible impact we’ll create together! ✨ https://xinfin.org/ XDC Foundation #Blockchain #DigitalEconomy #Partnership #Innovation #RWA #TradeFi #DeFI #ISO20022 #EVM #BuildOnXDC #PaperlessTrade

🚨 Nominations are now open for The Blockies 2024! 🚨 Recognising excellence in the blockchain industry, The Blockies are the premier awards celebrating individuals and businesses making significant impacts in the digital economy by leveraging Blockchain and digital assets. If you or your business have contributed to the growth and innovation within this space, now’s your chance to shine! 🏆 Nominations close on September 25th, 2024, at 11:59 PM. Visit http://blockies.com.au/ to submit your nomination today! #blockchain #awards #innovation #blockies

📢 Masterclass - Digital Economy and Tax - REGISTRATIONS OPEN 📢 Digital Economy Council of Australia (DECA) is proud to announce that it has partnered with Cadena Legal to run a two-day, fully catered masterclass on all things relating to the digital economy and tax. 👩💼 Masterclass: Digital Economy and Tax 🌍 in BRISBANE on ⏲ 25 and 26 September 2024 📖 Registrations Open: https://lu.ma/y02jn3pq Our Masterclass is designed for businesses and professionals looking to deepen their understanding of the business applications and opportunities within the digital economy. Through a series of curated seminars, workshops and fireside discussions, we want to showcase the rich talent and experience of practitioners in this space. Places are limited, so do not miss your opportunity to learn from the best in this space!

Fantastic achievement by our member XinFin Powering XDC Network! 🙌

The Blockies are coming this November in SYDNEY! Register your interest to sponsor now! ➡️ https://lnkd.in/gieKUGqP Celebrate the achievements of those who have dedicated their efforts to growing the Australian blockchain industry ecosystem. Hosted by DECA, The Blockies is the prestigious annual Australian Blockchain Industry Awards, recognising individuals, organisations, and projects that have made significant contributions to blockchain, DLT, and digital assets sectors in Australia. Stay tuned—nominations opening soon! 🚀 Register your interest to sponsor The Blockies here ➡️ https://lnkd.in/gieKUGqP