PANews May 16 news, according to Decrypt, the Australian cryptocurrency exchange Cointree has been fined AUD 75,120 by the financial regulator AUSTRAC for delaying the submission of suspicious transaction reports. The exchange proactively disclosed compliance vulnerabilities and is currently upgrading its internal monitoring system. According to Australian anti-money laundering regulations, suspicious fund flows must be reported within 3 business days, while suspicions of terrorist financing must be reported within 24 hours. AUSTRAC Director Brendan Thomas pointed out that timely reporting is crucial for tracking criminal funds. This is the latest action by the agency to strengthen regulation of the cryptocurrency industry since 2024, having previously penalized 13 non-compliant companies and issued warnings to over 50 institutions.