The Australian Transaction Reports and Analysis Centre (AUSTRAC) has stated that there are 312 cryptocurrency exchanges in Australia at the moment, which means a 27% increase from 246 exchanges in February 2019.
AUSTRAC, the country’s financial intelligence agency and anti-money laundering regulator has been regulating crypto exchange providers since April 2018 in order to lower the risk of money laundering, terrorism financing and cybercrime. AUSTRAC also stresses that crypto exchanges must be registered with them as stated in the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
“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.”
AUSTRAC – Bitcoin.com
It is noteworthy that the registration of Webpark Pty. Ltd., Auscoin ATM Pty. Ltd., and ACN 625 238 735 Pty. Ltd. have been cancelled, and Cryptocurrency Transaction Machines Pty. Ltd. has been suspended.
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