CoinVoice has recently learned that, according to Cointelegraph, Australia's anti-money laundering agency AUSTRAC has demanded that registered but non-operational cryptocurrency exchanges voluntarily cancel their registration, or they will be forcibly deregistered. The agency stated on April 29 that among the current 427 registered exchanges, some that have long been inactive may be acquired by criminals for fraudulent activities. AUSTRAC CEO Brendan Thomas emphasized that registered businesses must timely update their operational status, or they will face 'use it or lose it' measures.
AUSTRAC plans to publish a list of registered exchanges to help the public identify legitimate platforms. Since 2019, 10 institutions have had their qualifications revoked, including the local subsidiary of FTX that was processed in June 2024. In February of this year, the agency also took compliance review measures against 13 remittance service providers and exchanges. Currently, Australia has yet to introduce specific cryptocurrency regulations, with the government aiming to advance the inclusion of exchanges into the existing financial services law regulatory framework before the May 3 elections. [Original link]
