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Australian Senate committee backs digital assets regulatory framework: Senate Economics Legislation Committee

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Australia’s Senate Economics Legislation Committee has endorsed proposed legislation to modernize the country’s digital assets regulatory framework.

Australia’s Senate Economics Legislation Committee has backed a proposed legislative framework to modernize digital assets regulation, according to a report published Monday. The committee stated that the new framework will strengthen the regulatory environment for cryptocurrency and digital asset markets in the country.

The endorsement builds on Australia’s prior efforts to establish robust anti-money laundering and counter-terrorism financing (AML/CTF) rules for crypto-assets. The committee has previously recommended introducing new regulatory standards for custody arrangements of digital assets, reflecting ongoing efforts to enhance consumer protection and market integrity in digital asset markets.

Sources: ASIC

This article was generated automatically by The Defiant’s AI news system from publicly available sources.

WhiteBridge AI raises $3M to set a new standard for people search & research

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WhiteBridge AI, the team building an AI-powered people search & research engine, has raised a $3M seed round to accelerate its mission of setting a new standard for how data about people is discovered, verified, and used. The round was led by FIRSTPICK VC, with participation from First Degree, NGL.VC, Scalewolf.VC, BADideas.fund, Nectolabs, Plug and Play, and several experienced angel investors.

Founded in 2024, WhiteBridge was built around a simple reality: information about people already exists online, but it’s fragmented, inconsistent, messy, and increasingly easy to manipulate. WhiteBridge turns scattered public signals into clear, decision-ready insight-helping teams move from “trust me” to “verify it.” The platform empowers better professional and personal relationships with actionable insights, while helping individuals stay in control of their digital footprint and online narrative.

WhiteBridge founding team

“What sold us wasn’t just the market – it was the team. They’re quick, practical, and they ship. In a fast-moving AI space, that’s the advantage.” – Dmitrij Sosunov, Managing Partner, Firstpick VC.

WhiteBridge was founded by Tomas Martūnas, Irmantas Motiejūnas, Justinas Barauskas, and Paulius Taraškevičius-operators and builders focused on turning digital identity chaos into clear, usable context.

“Most people don’t realize how much information about them is already circulating online – and even fewer understand how it can shape their personal and professional opportunities. With WhiteBridge, we’re here to bring clarity and control to that chaos. Our platform gives people and businesses a reliable way to understand and manage online identity signals – so they can act with confidence,” said Tomas Martūnas, co-founder of WhiteBridge AI.

From reputation reporting to people research at scale

WhiteBridge originally launched as a platform for digital footprint audits and reputation monitoring-aggregating, verifying, and organizing public data across dozens of sources. Monitoring helps people stay ahead of what appears online and respond early when something changes. That foundation now expands into a larger mission: building a people search & research engine for anyone who needs to quickly validate another person’s story-with context, not guesswork.

The practical use cases are direct:

  • Business and sales preparation that goes beyond surface profiles-so teams can walk into meetings with verified context.
  • Partner and vendor validation to reduce costly mistakes and improve trust in professional relationships.
  • Third-party screening for digitally active adults, where speed and reliability matter most.

As online identity becomes easier to fake, the next essential workflow is fast, reliable people research-built on real data, made reliable through verification, and delivered in a convenient format that replaces hours of manual searching.

Built for SMBs: automate preparation and use your network better

For small and mid-sized businesses, the cost of getting people’s decisions wrong is high-and time to do deep research is limited. WhiteBridge helps teams prepare faster and operate with more certainty by turning messy online signals into structured insight. In a world where automated outreach creates noise, the quality of relationships-and the trust behind them-will matter more than ever.

Data direction: more providers and stronger integrity over time

As WhiteBridge grows, it is expanding the number of data providers it connects to and investing in better ways to ensure data provenance, integrity, and explainability-so users can understand not only the outcome, but also the signals behind it.

Individuals should take care of their digital footprint and online presence – or let WhiteBridge handle it for them with clarity, control, and trustworthy data.

Crypto.com Enables Tourist Crypto Payments in Korea With KG Inicis Deal

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Crypto.com has partnered with KG Inicis, one of the largest South Korean payment gateways and value-added network providers, to introduce crypto payment options for foreign visitors across the country.

KG Inicis, which processes hundreds of millions of transactions annually with its service used by around 190,000 affiliated merchants, will support the rollout of Crypto.com Pay across its network, according to a Tuesday announcement.

“KG Inicis boasts an unrivalled merchant acceptance network with 40% market share and we’re proud to partner with this fintech powerhouse to make digital asset payments easier for travellers to Korea,” Eric Anziani, president and chief operating officer of Crypto.com, said.

The integration allows international travelers to pay for goods and services using digital assets at both physical stores and online platforms. Merchants will have the option to receive funds instantly in fiat or digital assets.

Related: Cambodia’s Bakong Tourists app boosts regional payment options 

Crypto.com and KG Inicis eye deeper collaboration

Beyond payments, the two companies said they are exploring additional areas of cooperation, including joint marketing efforts and new product development, subject to regulatory approval.

“Through our collaboration with Crypto.com, we plan to expand an infrastructure where digital assets can be utilised in actual economic activities, all while ensuring a solid legal and regulatory foundation,” a representative from KG Inicis said.

Crypto.com partners with KG Inicis. Source: Crypto.com

The partnership comes as Crypto.com continues to expand services. In February, the exchange received conditional approval for a US national bank charter, paving the way to operate as a federally regulated digital asset custodian. Before that, the platform earned ISO certification for AI systems management, signaling a push deeper into the sector.

Related: Thailand to allow crypto spending for tourists, eyes regulatory reform

More countries allow tourists to pay in crypto

In May 2025, Bhutan introduced a crypto payment system for tourism through a partnership with Binance Pay and DK Bank, allowing travelers to pay for hotels, tickets and services using over 100 cryptocurrencies.

In August, Thailand also announced plans to launch an 18-month “TouristDigiPay” program allowing tourists to convert crypto into Thai baht for spending, with merchants receiving fiat rather than digital assets.

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