Australia Sets Registration Deadline for Cryptocurrency Exchanges

Newly implemented regulations from Australia’s financial intelligence agency, AUSTRAC, has mandated domestic cryptocurrency exchanges to register with the authority before mid-May 2018.

In an announcement on Wednesday, the Australian Transaction Reports and Analysis Centre (AUSTRAC) reminded cryptocurrency exchange operators of their obligation for compliance with the authority after new regulations effectively kicked in on April 3. The regulatory laws, the first for Australia’s cryptocurrency sector, were fast-tracked after the Australian Senate passed legislation to that effect in late 2017.

“Effective immediately, DCEs (digital currency exchanges) with a business operation located in Australia must now register with AUSTRAC and meet the Government’s AML/CTF compliance and reporting obligations,” the authority said yesterday.

Reference: https://www.ccn.com/australia-sets-registration-deadline-for-cryptocurrency-exchanges/

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