AUSTRAC’s cracking down on inactive crypto exchanges, warning digital currency exchanges (DCEs) to ‘use it or lose it’. Dormant DCEs should voluntarily deregister or risk being cancelled. With 427 DCEs on the books—and many dormant—AUSTRAC says inactive registrations pose a money laundering risk, making them easy targets for criminal takeovers. A new publicly searchable DCE register is also on the way, aimed at allowing customers to check whether a DCE is registered with AUSTRAC.

WA overhauls its evidence law. The west coast is scrapping its evidence laws and switching to Uniform Evidence Law under the new Evidence Bill 2025, bringing it into line with most other states. The big changes, the State says is the ramp up on protections for victims of FDV and abuse —with mandatory special witness status, video evidence from police body cams, bans on intrusive cross-examination, and an end to outdated jury warnings that cast doubt on delayed complaints. While substantially aligning with the Uniform Evidence Law, the Bill retains and updates WA provisions in the Evidence Act 1906 that are considered best practice.

ASIC’s going digital—from 5 May, a new online portal will handle AFS licence applications, variations and cancellations. While the rules and licensing criteria stay the same, the portal offers pre-filled info, tailored questions and faster processing.

Rebecca Maslen-Stannage has been reappointed as HSF’s global chair and senior partner until April 2029. Her re-election comes just weeks before the HSF and Kramer Levin merger takes effect on 1 June. Maslen-Stannage, a veteran M&A partner and ex-Dealmaker of the Year, is a Freehills lifer, joining the firm as an articled clerk in '94: Lawyers Weekly

Larissa Toozoff has joined Maddocks' Canberra office as a partner in its government practice, jumping over from Ashurst’s Projects and Energy Transition team. Known for advising on major Commonwealth infrastructure and procurement deals, Toozoff’s hire boosts Maddocks’ firepower in servicing government clients.

Sarah Proudfoot has been named CEO of the ACCC, following a 20-year rise through the ranks—starting at the Infocentre to acting chief and now the top job. She’s led key portfolios including telecoms, ports, rail and energy, plus the 2023 Childcare Inquiry and National Anti-Scam Centre.

Bad news for billables—people now prefer legal advice from LLMs over actual lawyers—even when told who wrote it. A UK study found that users liked AI’s concise, jargon-free delivery. But researchers warn this trust could trigger a spike in self-representation and dodgy litigation: Lawyers Weekly

The Teal tide might’ve peaked. Postal votes are swinging key seats like Kooyong and Goldstein back toward the Libs as the Teals fight to hang on. In Goldstein, less than 100 votes separate Zoe Daniel and Tim Wilson, making her triumphant "hope wins" speech on Saturday look a tad premature: ABC, SMH

Despite a $300bn valuation, OpenAI’s nonprofit board will retain control of the company. OpenAI will transition its for-profit sub to a Public Benefit Corporation–a purpose-driven company structure that has to consider the interests of both shareholders and the mission. The nonprofit board remains in the driver seat. That’s the board that famously ousted CEO Sam Altman in 2023 but swiftly re-hired him after internal chaos: AFR

Meanwhile, Optus AI Chief says Europe’s regulations should be a cautionary tale, not a model. Australia runs the risk of missing out on a $317 global AI boom if it follows Europe’s path: Capital Brief

Tyro: has dumped its Smartpay bid and is lining up Stripe instead, though it's still early days (no offer yet). And Smartpay’s now in exclusive talks with US giant Shift4. With Smartpay, Tyro and Stripe all on the move, Australia’s payments sector is bracing for a shake-up: AFR

Gold Fields: is paying $3.7bn to take full control of JV partner Gold Road, locking in 100% of WA’s Gruyere mine. The $3.40/share offer is made up of a $2.52 fixed cash component and variable cash component tied to Gold Road’s 3.8% stake in Northern Star, giving shareholders upside to gold’s surge until deal completion. As at May 2, the variable portion was valued at $0.88 a share: Mining Weekly

Shein’s: London float has stalled, with tariff blowback and Chinese regulatory approvals dragging it down. What could have been London's biggest IPO in years is on the brink, with Shein's IPO valuation nosediving. It was targeting US$90bn in 2023, and in February it was down to US$30bn as private sellers are offloading shares at steep discounts: Bloomberg

Affinity Equity Partners: is on the hunt for another radiology buy. After dropping $965m on Lumus Imaging, Affinity is back on the shopping spree—this time eyeing Allegro’s Perth Radiological Group and smaller players in Vic. The goal? Scale fast. With Affinity paying 17x EBITDA, the heat’s now on Permira to match that multiple in its looming $3bn I-MED exit: The Australian

With Labor’s re-election, the mining sector gets the green light on the $7bn critical minerals tax break and a $1.2bn strategic reserve. Industry bodies are cheering the certainty, but want exploration incentives extended and environmental approvals streamlined. WA’s miners say it is fine to stockpile but any plans must contain safeguards against applying continued downward pressure to commodity prices: Mining Weekly

Rio Tinto’s tipping $20.8bn into Pilbara projects over the next three years, backing major expansions like Western Range and Rhodes Ridge, which could become Australia’s biggest iron ore mine. It’s not just about the ore—Rio’s also smashed records with $10.3bn in local supplier spend, signalling it’s in WA for the long haul: Mining Weekly

Westpac’s half-year profit dipped 1% to $3.3bn, missing forecasts as rising costs and fierce mortgage competition bit into margins. Its $5.7bn spend includes a hefty tech overhaul, but investors weren’t impressed, with shares falling nearly 3%. New CEO Anthony Miller remains optimistic, saying says “potentially the worst is behind us”: Investor Daily, Capital Brief

APRA will send officers to inspect $92bn super fund Rest this week to assess whether it's ready for tough new risk rules kicking in July. The fund, recently hit by a cyberattack and flagged for slow death payouts, outsources almost everything — a big red flag under APRA’s CPS230 regime: AFR

Charter Hall has snapped up Corio Village for $146m from IP Generation, as institutions muscle back into retail. Anchored by Coles, Woolies and Kmart, the centre turns over $200m a year. The deal adds to Charter Hall’s $14bn portfolio of convenience retail assets and reflects a growing appetite for subregionals at a discount to replacement cost: The Australian

Property mogul Harry Stamoulis is circling 357 Collins St in a $200m counter-cyclical play, beating out crypto billionaire Ed Craven. The 25-storey tower, home to CBA and Gartner, adds to Stamoulis' savvy office buys in a down market. Private capital is still circling CBD assets, with Growthpoint and the Lowy-backed Assembly Funds also sniffing around: The Australian

Meta’s AI chatbots will talk dirty to users. The fake personas will engage in “romantic role-play”, even imitating celebrities, as Meta cut seven-figure deals with Kristen Bell and John Cena for rights to use their voices. To make matters worse, Wall St Journal tests found that bots would escalate discussions even where users were underage: WSJ

Netflix raked in $1.3bn from Aussie subscribers last year, up 18%, but now faces a fresh fight with Labor over local content quotas. The streamer’s gearing up for renewed talks as the re-elected government pushes ahead with rules that could force it to reinvest up to 20% of local spend into Aussie drama: Capital Brief