312 Crypto Exchanges Registered in Australia, Regulator Confirms

312 Crypto Exchanges Registered in Australia, Regulator Confirms
фото показано с : news.bitcoin.com

2020-2-10 16:00

A growing number of cryptocurrency exchanges have been registered with Australia’s crypto regulator. A spokesperson for the government agency overseeing the crypto industry confirmed to news.Bitcoin.com on Monday that the regulator has already registered 312 crypto exchanges.

Also read: Bitcoin, Tesla Stock, Tron: How Warren Buffett Got His First Bitcoin

312 Registered Crypto Exchanges

The Australian Transaction Reports and Analysis Centre (AUSTRAC), the country’s financial intelligence agency and anti-money laundering regulator, has been regulating the crypto industry since April 2018. A spokesperson for the regulator told news.Bitcoin.com on Monday that “Since April 2018, AUSTRAC has regulated digital currency exchange providers to minimize the risk of criminals using them for money laundering, terrorism financing and cybercrime,” adding:

Currently, there are 312 digital currency exchange providers registered and enrolled with AUSTRAC.

This latest number represents a 27% increase, or 66 more crypto exchanges, from the number a spokesperson for the regulator told news.Bitcoin.com in February last year. At that time, 246 entities had been registered with AUSTRAC.

Crypto Regulatory Framework in Australia

The spokesperson further explained that Australia’s “Anti-Money Laundering and Counter-Terrorism Financing Act 2006 requires digital currency exchange providers to formally register with AUSTRAC and implement anti-money laundering and counter-terrorism financing controls within their business.” According to the agency’s website:

If you are a digital currency exchange provider, you must be registered with AUSTRAC before you can provide digital currency exchange services. It is against the law to provide digital currency exchange services in Australia without being registered.

If registered crypto exchanges do not meet their obligations for anti-money laundering and counter-terrorism financing, AUSTRAC can take steps to enforce compliance and seek a penalty.

So far, the regulator has canceled the registration of three companies: Webpark Pty. Ltd., Auscoin ATM Pty. Ltd., and ACN 625 238 735 Pty. Ltd. In addition, the registration of Cryptocurrency Transaction Machines Pty. Ltd. has been suspended. Three more companies were refused registration: Jwon1 Pty. Ltd., Easy Bitcoin Trading Pty. Ltd., and The Gold Buying Company Pty. Ltd. The regulatory, however, does not publish the list of all approved crypto exchange service providers.

Meanwhile, the Australian Securities and Investments Commission (ASIC) is responsible for regulating crypto assets and tokens that fall under the definition of financial products, including companies seeking to raise funds through initial coin offerings (ICOs). Australian securities laws may apply, including the requirement to hold an Australian financial services license, which is needed to conduct a financial services business in the country.

What do you think of the number of registered crypto exchanges in Australia? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images courtesy of Shutterstock and AUSTRAC.

Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post 312 Crypto Exchanges Registered in Australia, Regulator Confirms appeared first on Bitcoin News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0122675 (-100%)

crypto regulator australia registered exchanges government agency

crypto regulator → Результатов: 126


Taiwan’s Financial Regulator will Conduct Specific Review of Cryptocurrencies

Economy & Regulation The Financial Supervisory Commission of Taiwan has indicated its intentions to maintain only a limited oversight of cryptocurrencies. The regulator said it’s going to focus mainly on the enforcement of anti-money laundering policies, while remaining open towards innovations like those coming from the crypto sector. The regulator is only involved in preventing

2018-6-22 17:20


Фото:

Japan seizes Crypto transactions – Yakusa’s commitment has been confirmed

The agency confirmed to news.Bitcoin.com that at least one of the six exchanges has some form of involvement with the Yakuza. Japan Confirms Entrance Into the Crypto Space Punishing 6 Regulated Exchanges Japan’s top financial regulator, the Financial Services Agency (FSA), issued six new business improvement orders on Friday, June 22. The orders to Bitflyer,

2018-6-22 14:59


Фото:

The Bitcoin Wallet provider Xapo receives the 6th-bit ligence from New York State

Cryptocurrency wallet and vault Xapo is the latest recipient of New York’s ‘BitLicense’, arguably the strictest state law governing the crypto sector, from the state’s financial regulator. Notably, this is the sixth-ever BitLicense the state has granted, with the last one being obtained by brokerage firm Genesis Global Trading in May 2018. With the obtained

2018-6-18 12:40


Фото:

Dutch AFM on Licensing Requirements for Institutions Invested in Crypto

The Dutch financial regulator, The Netherlands Authority for the Financial Markets (AFM) has published a letter addressed to new and currently existing institutions invested in cryptocurrencies. The letter seeks to inform that certain cryptocurrency investment activities may require licensing from the AFM, however, expresses “serious doubts” as to “whether managers of investment institutions in cryptos […] The post Dutch AFM on Licensing Requirements for Institutions Invested in Crypto appeared first on Bitcoin News.

2018-6-17 03:20


Фото:

German Finance Regulator Sees Blockchain As Revolutionary

Considering its status as a financial powerhouse and the home of the European Central Bank, Germany don’t often hit cryptocurrency headlines. Today however (I’m not sure if its just in the spirit of the world cup though) we are seeing reports from Germany that discuss some promising statements from the President of the Federal Financial Supervisory Authority (BaFin), Felix Hufeld.

2018-6-14 23:00


Фото:

Banks Advised on How to Manage Risks of ‘Crypto Assets’ by UK Financial Regulator

The UK’s Financial Conduct Authority (FCA) has issued guidance for banks on how to handle the risks associated with “crypto assets”, according to a letter posted on the FCA’s website June 11. Per the statement issued by Executive Directors of Supervision Jonathan Davidson and Megan Butler, banks should apply a highly individual approach to clients

2018-6-12 05:55