Cryptocurrencies get AUSTRAC anti-money laundering and terrorism funding scrutiny


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.