AUSTRAC, Australia's financial intelligence agency, is cracking down on inactive cryptocurrency exchanges, announcing the revocation of their operating licenses. This move aims to protect investors and prevent potential harm stemming from exchanges that are no longer actively operating. Exchanges like FTX Express and AccE Australia have reportedly been notified by AUSTRAC. They face forcible license revocation if they don't voluntarily surrender them. This measure ensures that only compliant and operational platforms participate in the Australian crypto market. This stricter regulatory approach reflects a growing global trend of increased scrutiny over the cryptocurrency sector. By eliminating dormant exchanges, AUSTRAC aims to mitigate risks associated with money laundering and other illicit activities. The agency will likely continue to monitor the crypto landscape and enforce compliance. ```