In what comes as the first major crypto sports sponsorship deal down under, the Australia Football League (AFL) has secured a partnership with Crypto.com to back its women’s league (AFLW). The deal is worth close to $75 million over the next five years, a steep increase from the AFL’s existing $18.5 million sponsorship contract with Toyota. Crypto.com is a Singapore-based crypto exchange offering digital wallets and crypto-backed debit cards. The partnership will mark Crypto.com’s first time sponsoring an Australian sports team. It will also be its first time sponsoring an elite women’s sports competition worldwide, a milestone that AFL Executive General Manager Customer and Commercial Kylie Rogers said she’s “proud” to be part of. “The AFL is proud to be the first Australian sports league and elite women’s competition globally to work alongside an organization that shares our passion to progress the future of elite sport and technology.” Crypto.com general manager Asia & Pacific Karl Mohan says that the company was attracted by Australia’s relatively high number of women interested in crypto.“Our latest consumer research in Australia found that more than half (53%) of crypto investors were females,” he said.“It is very encouraging to see that Australians from all walks of life, irrespective of gender or background, are very keen to adopt cryptocurrencies, and we’re excited about being their go-to platform.”Back in August, CNBC released a survey that found that women are still less than half as likely to invest in cryptocurrencies than men, with 16% of men investing vs 7% of women.Related: Australian women owning crypto has doubled in 2021: SurveyCrypto.com has amassed a number of sports branding deals over the past months, totaling over $1.5 billion. In mid-Nov, the crypto company secured a $700 million deal to rename the Staples Center in Los Angeles to the Crypto.com Arena for the next 20 years. It also signed a $100-million sponsorship agreement with Formula 1 in late June and a $175 million sponsorship agreement with the UFC in July.Čítaj viac
BTC Markets, the largest digital assets exchange in Australia, has announced it will be sponsoring professional tennis player Ajla Tomljanovic for the Australian Open and Sydney Tennis Classic tournaments taking place this month.In a Tuesday announcement, BTC Markets said it would be backing Tomljanovic as part of a partnership inspired in part by “increased investor activity from female investors in the last financial year.” Users from the crypto exchange will have the chance to win tickets to the tournaments and a meeting with the tennis star with a nonfungible token showing proof of attendance. Flash Competition to win 2 tix to see @Ajlatom play tomorrow at the Sydney Classic! Yup, you read that right, tennis & crypto united at last Gotta love how Aussies support their own – thanks Ajla for the goodies! @IMGTennis @TennisAustralia #sydneyclassic #tennis #crypto https://t.co/pNowdLzbNm— Caroline Bowler (@CaroBowler) January 10, 2022Founded in 2013, BTC Markets has more than 325,000 clients in Australia, who have traded more than $14.3 billion using the platform. In November, the exchange announced that it would be adding financial veterans Garry Duursma and David Raper as senior advisers to its board, aiming for market expansion.Related: Tennis star Naomi Osaka shows interest in Dogecoin, launches NFTMany crypto exchanges announced partnerships or collaborations with major figures in sports and entertainment in 2021. In June, FTX Trading announced seven-time Super Bowl champion Tom Brady would be receiving an equity stake in the crypto exchange as part of an endorsement deal. Actor Matt Damon also later appeared in an advertisement for cryptocurrency exchange Crypto.com.Čítaj viac
The Australian government is seriously consider the rollout of central bank digital currency (CBDC) and has backed numerous forward-looking regulatory crypto-proposals as part of a new “payments and crypto reform plan.”Treasurer Josh Frydenberg says the reforms “will firmly place Australia among a handful of lead countries in the world.”The reform plan is said to be the biggest shake-up of the Australian payments system since the 1990s, with part of the crypto-related groundwork set by the innovative proposals put forward by an Australian Senate Committee in September. According to the Australian Financial Review, the government is in favor of six out of nine reforms proposed by the Senate Committee, including a licensing regime for crypto exchanges, laws to govern decentralized autonomous organizations and a common access regime for new payments platforms. Two proposals relating to tax and financial compliance have been referred to their respective government bodies for consideration, while the government has knocked back another proposal related to renewable energy Bitcoin mining tax discounts. MD @ChloeWhiteAus quoted in the AFR on crypto regulation. The article includes a helpful summary table of the Government’s response to recent crypto proposals, signalling the path forward on regulation in Australia See more: https://t.co/q9ZLuf4r4b pic.twitter.com/ZxmiwoDdjQ— Genesis Block Advisory (@GenesisBlockAus) December 7, 2021Treasurer and deputy leader of the Liberal Party Josh Frydenberg outlined the government’s plans for crypto regulation, taxation and CBDCs in a speech today at the Australia-Israel Chamber of Commerce (AICC). “What is clear is that if we embrace these developments, Australia has an enormous opportunity to capitalize on the convergence between finance and technology,” he said. Concerning CBDCs, an unnamed senior government source told The Australian on Dec. 7 that a retail scale “RBA [Reserve Bank of Australia] backed Bitcoin or cryptocurrency” is currently being considered, and will be a key element of the government’s regulatory reform on digital payments. During his AICC speech, Frydenberg spoke bullishly on the crypto asset reform:“For businesses, these reforms will address the ambiguity that can exist about the regulatory and tax treatment of crypto assets and new payment methods. In doing so, it will drive even more consumer interest, facilitate even more new entrants and enable even more innovation to take place.” “For consumers, these changes will establish a regulatory framework to underpin their growing use of crypto assets and clarify the treatment of new payment methods,” he added. One Senate committee proposal the government looks set to ignore is the 10% tax discount for Bitcoin (BTC) miners who use renewable energy. Michael Harris the head of corporate development at local exchange Swyftx, told Cointelegraph:“We think this was a political consideration. The reality is that it’s probably going to be difficult for any government to segregate out an industry like BTC mining from other energy consumers, however laudable the intention.”However Harris said that overall the “noises coming out of government at the moment are promising” as the government seems to have recognized the need to introduce consumer protection laws without stifling innovation. “The devil will be in the detail though and we are especially keen to avoid a system that reduces customer choice by stacking the decks in favor of big, traditional financial players.”Related: Australian women owning crypto has doubled in 2021: SurveyCrypto-friendly senator Andrew Bragg, who drove the recent crypto proposals, told Cointegraph in a statement that Frydenberg’s crypto and fintech reform plan will put “Australia on the tech map”: “Australia will be a world-leading crypto hub under the Treasurer’s plan. Australian consumers will also benefit from new consumer protection rules.”“The world is watching Australia which is now setting the global standard for crypto, payments and digital wallet reform,” he added. Caroline Bowler, the CEO of local crypto exchange BTC markets welcomed the reforms, calling them a “major step forward to upgrade Australia’s one-size-fits-all regulatory framework in real-time.” “It’s great to see that the gaps in Australian regulation relating to digital financial products and the exchanges who support them are being finally addressed at the highest level of authority, and the Coalition Government is not shying away from the big issues surrounding crypto, payments and de-banking,” she said.Čítaj viac
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