Australian Bitcoin maximalists have founded their own industry body.

The Australian Bitcoin Industry Body will advocate for Bitcoin adoption and acceptance – and only Bitcoin.

The founding board members are Daniel Wilczyniski, the founder and CEO of Adelaide-based Hardblock Bitcoin Australia, a Bitcoin-only exchange; Daniel Alexiuc, chief executive of Brisbane-based Wallet of Satoshi, a Bitcoin Lightning wallet; and Ethan Timor, managing director of Brisbane-based Bitcoin exchange Bitaroo.

“Many cryptocurrencies have absolutely no utility, no purpose, and are more often than not designed to entrap inexperienced investors to ‘pump the bags’ of their creators and early investors,” said Timor.

“We recognise Bitcoin, and only Bitcoin, as true digital money. It is scarce, finite, divisible, interchangeable, and more portable than any money we have every known.”

Timor said the industry group will advocate Bitcoin-only financial solutions.


Swyftx launches in NZ

Meanwhile Brisbane-based exchange Swyftx is launching in New Zealand, offering local bank deposits and withdrawals and NZ currency pairs.

“Naturally, New Zealand has been on our radar for some time now,” Swftx chief executive Alex Harper said in a blog post. “Thanks to recent partnerships and regulations, we can support NZD on the platform as of (Monday).”

The company is offering free local bank deposits, with fiat withdrawals costing NZ$10.

Swyftx claims to be Australia’s second-largest crypto exchange, with over 350,000 customers. (Binance Australia says it has 480,000.)

It’ll be competing with the likes of Kiwi-Coin, Easy Crypto, BitPrime, Dasset and Sydney’s Independent Reserve for NZ crypto orders.