The Australian Transaction Reports and Analysis Centre (AUSTRAC) published a report on April 29, 2025, concluding a study aimed at identifying critical violations among crypto exchanges and money transfer services. The regulator found that many platforms do not comply with anti-money laundering (AML) and counter-terrorism financing (CTF) legislation. The AUSTRAC report noted that the volume of suspicious cryptocurrency transactions in 2024 increased by over $100 million, indicating the need for enhanced oversight.
AUSTRAC has urged all local crypto exchanges and payment services to implement AML/CTF programs, including risk assessments and staff training, to avoid sanctions. Previously, the Australian Treasury presented a plan to create a unified regulated ecosystem for digital assets, which includes mandatory licensing for major crypto platforms. The new rules will also apply to crypto ATMs, which are increasingly used for illegal operations.
These steps are part of a broader government strategy to enhance transparency and security in the crypto industry, aimed at protecting consumers and strengthening investor trust. Australia aims to harmonize its legislation with global standards to remain competitive in the international digital asset market.
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