Cryptocurrencies get AUSTRAC anti-money laundering and terrorism funding scrutiny

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April 11 2018

Cryptocurrency exchanges operating in Australia will now come under the scrutiny of Australia’s financial intelligence agency, AUSTRAC, and be monitored for money-laundering and terrorism funding activities.

The new law gives AUSTRAC the powers to police digital currency exchanges (DCEs) trading in a variety of crypto currencies including bitcoin, Ethereum and Ripple.