Australia’s IR to Enable Support for Ripple Crypto Markets Rebound; in

Investing.com – Cryptocurrencies markets rebounded on Thursday, with Ethererum and Ripple gaining more than 3%.

Bitcoin (Bitcoin) was trading at $6,624.0 by 11:30PM ET (03:30 GMT) on the Bitfinex exchange, up 2.3% over the previous 24 hours.

Ethereum, the world’s second largest cryptocurrency by market cap, climbed 3.3% to $472.1 on the Bitfinex exchange.

Ripple’s XRP token gained 3.2% to $0.49450 on the Poloniex exchange.

Meanwhile, Litecoin traded 1.6% higher to $85.272.

Sydney-based Independent Reserve (IR), Australia’s first regulated crypto exchange, is enabling support for Ripple (XRP), reports on Wednesday said.

The exchange would launch trading service on July 7 to both retail investors and institutional clients.

“There is a wide universe of digital currencies out there now, but to be listed on Independent Reserve they need to meet a range of criteria including quality, stability and volume metrics. Our clientele have been requesting XRP and we felt this timing was right to offer it to them,” said Adrian Przelozny, chief executive of Independent Reserve.

In April, Independent Reserve became Australia’s first regulated cryptocurrency exchange after legislation passed late last year authorized the Australian Transaction Reports and Analysis Centre (AUSTRAC) to monitor domestic cryptocurrency exchanges.

Elsewhere, the United States Internal Revenue Service (IRS) has formed the Joint Chiefs of Global Tax Enforcement (J5) together with the United Kingdom, Canada, Australia, and the Netherlands to fight transnational tax crimes.

“We will work together to investigate those who enable transnational tax crime and money laundering and those who benefit from it. We will also collaborate internationally to reduce the growing threat to tax administrations posed by cryptocurrencies and cybercrime and to make the most of data and technology,” the IRS said in a statement.

A report on Tuesday revealed that money-laundering events associated with cryptocurrencies has increased three-fold so far in 2018. A total of $761 million was stolen from digital currency exchanges this year, compared with about $266 million for the whole of 2017.

The losses could rise to $1.5 billion this year, the report added.