Market report for traders
🔮 BTC, ETH, and Altcoins
Over the last 7 days, Bitcoin ends at AU$139,673 moving +8.3% at the time of writing. Meanwhile, Ethereum ends at AU$3,286.83 moving +9.7% week-on-week. On the Altcoin side, Solana +17.6%, Dogecoin +16.4%, and XRP +9.8% change.
🗞 What’s happening in the news?
🏛 Australia Announces Crypto Regulation Plan and Pledges to Tackle De-Banking
Australia’s crypto sector is set for transformation as the Albanese government will release draft legislation in 2025 for consultation. The proposal extends existing financial services rules to crypto exchanges, custody services, and brokerage firms, requiring them to obtain an Australian Financial Services Licence, meet capital requirements, and ensure strong asset custody. In an official statement, the Treasury noted, “Our legislative reforms will extend existing financial services laws to key digital asset platforms”. The government has also promised to collaborate with Australia’s four largest banks to gain a better understanding of the scale and nature of de-banking.
🌏Pakistan’s Crypto Council Explores Using Surplus Energy for Bitcoin Mining
During its first meeting on 21 March, Pakistan’s Crypto Council brought together representatives from the Bank of Pakistan, Pakistan’s Securities and Exchange Commission (SECP), and the federal IT secretary to discuss a national crypto roadmap. CEO Bilal Bin Saqib suggested harnessing leftover energy for Bitcoin mining, hoping to attract overseas investors. “This is the beginning of a new digital chapter for our economy,” remarked Senator Muhammad Aurangzeb, highlighting a shift from Pakistan’s previously cautious stance on digital assets. The council’s mission is to establish Pakistan as a globally recognised crypto hub.
💰 Solo Bitcoin Miner Hits Big, With AU$422,000 Payday
One solo Bitcoin miner recently defied the odds, mining a Bitcoin block alone and collecting around 3.125 BTC plus fees. That translates to a reward of about AU$422,000, given Bitcoin’s current value of 84,257 USD (AU$134,000) per coin. This block was mined using a FutureBit Apollo — a compact, consumer-focused miner capable of operating independently — yet “solo” broadly refers to mining outside a pool. Large-scale home setups can significantly enhance the chances of success, making it far from a casual pastime. Recent solo block discoveries have stirred enthusiasm among those hoping for a big payoff, but experts warn that given the Bitcoin network’s continuously rising computational demands, true one-machine victories remain exceptionally rare.
📖 What we’ve been reading
Ripple celebrates SEC’s dropped appeal, but crypto rules still not set
The high-profile SEC case against Ripple seems to have come to a close, but the crypto industry still doesn’t have the legal framework it wants.
Tether seeks Big Four firm for its first full financial audit — Report
Tether CEO Paolo Ardoino reportedly said a full audit is a “top priority” as the firm looks to enlist a Big Four accounting firm for the task following recent criticism.
Another Publicly Traded Company Is Starting a Bitcoin Treasury
Biotech firm Atai is the latest publicly traded company to announce a Bitcoin treasury strategy, starting with a $5 million buy.
*Disclaimer: The information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions.*
