Original sourceFinance MagnatesAdditional: ct.com
Summary
In the past year, Australia's financial intelligence unit AUSTRAC has canceled, suspended, or failed to renew the registrations of 45 crypto and remittance service providers due to inactivity, bankruptcy, regulatory filing failures, or money laundering/terrorism financing risks. Among them, GetCoin…
Key points
- Regulatory actions indicate stricter compliance requirements; crypto service providers must maintain registrations and meet AML/CFT obligations.
- Australian regulators are clearing out non-compliant crypto services, affecting market access and operational standards.
- Crypto businesses in Australia must ensure compliance or risk losing their license; users should verify the regulatory status of service providers.
Editorial note
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