Australian regulator tests automatic removal of crypto scam sites

The country’s authorities use the UK technology Netcraft

21.07.2022 - 11:50

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What’s new? The Australian Competition and Consumer Commission (ACCC) has tested a new system that automatically removes scam websites, including those related to cryptocurrency. The ACCC uses the technology of the UK company Netcraft, which has been providing similar services to the UK government for four years. According to Cointelegraph, more than 300 scam sites have already been blocked by an Australian court order using Netcraft.

Cointelegraph’s material

What else is known about the technology? Further in-country testing of Netcraft will be conducted with the Australian Securities and Investments Commission (ASIC). Among the resources shut down are phishing sites posing as government and corporate sites, as well as sites of scam crypto projects. The ACCC also reported that for 2021, Australians lost around $113 million due to crimes related to digital assets.

In June, the Australian government officially confirmed that cryptocurrencies would not be subject to the tax that applies to foreign currency. However, the capital gains tax will still apply to digital assets held in investment portfolios.

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