Australia’s financial watchdog has expressed concerns over the surge in digital currency usage in facilitating illicit transactions. Per the 2024 Money Laundering National Risk Assessment from the Australian Transaction Reports and Analysis Centre (AUSTRAC), a financial intelligence agency, the nation… origin »
The Australian Financial Compliance Enforcement Agency (AUSTRAC) has announced two new guidelines to make it simpler to identify when crypto is being used for dubious purposes or when a person is being obliged to pay crypto to ransomware perpetrators.
AUSTRAC also urged financial institutions from debanking clients who may be engaged in suspicious account activity, as a mistake could be costly to “Australia’s economy.”
Australia has been a pro-crypto country for quite some time and cryptocurrencies are treated as a legal commodity in the country; however, cryptocurrency exchanges register with the AUSTRAC, a government financial intelligence agency set up to monitor financial transactions.
The Australian Transaction Reports and Analysis Centre (Austrac) has now officially registered 246 cryptocurrency exchanges. Pro-regulation industry participants have described the move as a key step towards legitimizing crypto assets.
A new exchange has been recently added to Australia. Starting from today, December 3, Coinzoom Australia is a new official crypto exchange in the country. The announcement was made soon after the digital currency exchange received the license from the Australian regulator Austract.
Coinzoom Australia said Dec. 3 that it has been officially registered as a digital currency exchange with financial watchdog Austrac. The registration allows the exchange to operate legally according to Australian law.
Utility billing and payment services provider Novatti is launching a new Australian dollar (AUD)-backed stablecoin known as the Novatti AUD Utility Token on the Stellar Network.
Australia’s financial regulator, the Australian Transactions Reports and Analysis Centre (AUSTRAC), is tightening up surveillance on cryptocurrency exchanges as sophisticated criminals leverage digital currencies to send money internationally.
The partnership aims to improve the Aave-based swapping experience with the provision of deeper liquidity, significant protections against diverse MEV attacks.
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