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Australia To Require Crypto Firms To Hold Financial Services Licenses

Here are some of the major developments from the world of crypto over the past few days

New legislations are reportedly prepared by the Australian regulators to require cryptocurrency exchanges to obtain financial services licenses.

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As per the Australian Financial Review (AFR), these licensing requirements for crypto exchanges in Australia are set to be extended beyond those related to digital currency exchanges. 

According to Australian Securities and Investments Commission (ASIC) commissioner Alan Kirkland, the new requirements are necessary because the regulator considers that the Corporations Act captures most major crypto assets like Bitcoin BTC $63,469 and Ether ETH $2,640. 

Crypto-Native Travel Agency Launches Solana-Based Tokens

A crypto-based online travel ticketing service, ''Travala" expanded its crypto payment options to support major tokens running on the Solana blockchain.

This partnership will allow travelers to book hotels and flights using Solana’s native token, Solana SOL $144, and major stablecoins Tether USDT $1.00 and USD Coin USDC$1.00 on the Solana blockchain. 

With Travala, users can deposit and withdraw supported tokens directly with zero-fee transactions on travel bookings, as the respective online travel ticketing service has a history of accepting payments via Bitcoin and numerous other cryptocurrencies, including Ether. 

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Crypto investors and enthusiasts on X rejoiced in the collaboration, hoping for a seamless travel booking experience.

OpenSea users claim NFTs are securities in the proposed class suit

Two OpenSea users have filed a class-action lawsuit against the NFT marketplace in the United States, accusing it of selling unregistered securities contracts. 

In the lawsuit, filed on Sept. 19 in a Florida federal court, the two users, Anthony Shnayderman and Itai Bronshtein argued that the NFTs they bought on OpenSea, including those from the once highly valued Bored Ape Yacht Club collection, are now worthless because they are allegedly illegal. 

The plaintiffs referenced OpenSea's recent disclosure of a Wells notice from the Securities and Exchange Commission (SEC), which they claim indicates that OpenSea could be held accountable for facilitating the trade of unregistered securities. 

A Wells notice signals that the SEC has completed an investigation and may take enforcement action. 

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