Australian financial regulatory press service confirmed that the number of registered cryptocurrency exchanges and stock exchanges increased significantly. AUSTRAC issued licenses to 312 organizations — investment platform learned.
Australian Transaction Reports and Analysis Centre (AUSTRAC) — financial intelligence agency and anti-money laundering authority, has been regulating cryptocurrency companies` work since April 2018.
Press service of the regulator has claimed on Monday that “since spring 2018 AUSTRAC has been regulating the work of digital currency exchange service providers with an aim to minimize the risk of its usage by criminals for money laundering, terrorist financing and cybercrime”. AUSTRAC claimed:
“At the current time in AUSTRAC are registered 312 suppliers of cryptocurrency exchange service”.
Since February 2019 the regulator has registered 66 new exchanges and stock exchanges. Press service of the agency has explained that the Australian Anti-Money Laundering and Terrorist Financing Act of 2006 requires cryptocurrency exchanges and stock exchanges to officially register with AUSTRAC and implement measures to control money laundering and combat the financing of terrorism.
If registered cryptocurrency exchangers and stock exchanges do not fulfill their obligations to prevent money laundering and terrorism financing, AUSTRAC can take law enforcement actions.
At the current moment the regulator has revoked the license of three companies: Webpark, Auscoin ATM и ACN 625 238 735. Three more companies were denied registration: Jwon1, Easy Bitcoin Trading и The Gold Buying Company. In March of last year, it was informed that AUSTRAC suspended operation of two cryptocurrency exchanges due to suspected money laundering. Wherein, the full list of registered cryptocurrency exchange services is not published on the website of the regulator.