Australian Regulator Targets 13 Remittance Services and Crypto Exchanges
The Australian Transaction Reports and Analysis Center (AUSTRAC) has taken regulatory action against 13 remittance service providers and cryptocurrency exchanges, issuing compliance warnings to more than 50 institutions.
According to AUSTRAC CEO Brendan Thomas, the agency denied registration renewal for six providers due to serious violations by key personnel that compromised their integrity.
Additionally, two other providers were subjected to conditional restrictions for not meeting requirements within the required timeframe.
In Australia, there are currently 417 digital currency exchanges and 5,112 remittance agencies registered with AUSTRAC. Notably, two now-defunct cryptocurrency exchanges, FTX Australia’s subsidiaries FTX Express and Zipmex Australia, have been removed from the digital currency exchange registration list in the country.
