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ASIC defends higher industry levies

ASIC defends higher industry levies subscribe Reporter Reporter A A The financial services regulator has responded to concerns that it has substantially upped its levies, outlining that it needs the extra funds to cover its post-royal commission enforcement activities. Last week, the Australian Securities & Investments Commission (ASIC) released a summary of its actual regulatory costs and actual levies for the year 2019-20. ASIC confirmed its regulatory costs to be recovered through industry funding levies for the 2019-20 year were $320.331 million, slightly below its original estimation of $324.5 million (but markedly up from $273 million in 2018-19). Of this, the 4,653 credit intermediaries (such as brokerages and aggregation groups) will be charged a total of $6.892 million.

Bolton tackles Tesla over worthless bitcoin

Bolton tackles Tesla over ‘worthless’ bitcoin Investor Nick Bolton accuses Tesla’s Elon Musk of hypocrisy for promoting bitcoin, the production of which requires huge amounts of power. Picture: David Geraghty Business by Richard Gluyas Premium Content Subscriber only In his determination to understand volatile markets, Nick Bolton has immersed himself in some unusual activities, like spending $5000 on two specialised computer servers in China to mine bitcoin and track the mania fed by Tesla chief executive Elon Musk. Bolton, who has a short position in the electric vehicle maker and has previously shorted bitcoin, is now sufficiently abreast of the issues to express his considered view about the cryptocurrency s worth - probably absolutely nothing, he says, which is a little less than its current valuation of $US1 trillion ($1.3 trillion).

Bolton tackles Tesla over worthless bitcoin | Ballina Shire Advocate

Bolton tackles Tesla over ‘worthless’ bitcoin Investor Nick Bolton accuses Tesla’s Elon Musk of hypocrisy for promoting bitcoin, the production of which requires huge amounts of power. Picture: David Geraghty Business by Richard Gluyas Premium Content Subscriber only In his determination to understand volatile markets, Nick Bolton has immersed himself in some unusual activities, like spending $5000 on two specialised computer servers in China to mine bitcoin and track the mania fed by Tesla chief executive Elon Musk. Bolton, who has a short position in the electric vehicle maker and has previously shorted bitcoin, is now sufficiently abreast of the issues to express his considered view about the cryptocurrency s worth - probably absolutely nothing, he says, which is a little less than its current valuation of $US1 trillion ($1.3 trillion).

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