Australia has been very direct and positive in terms of cryptocurrency regulation and is already implementing some of its bigger plans, like exchange registration. However, their plans and rules relating to cryptocurrencies are not unreasonable, stifling, or damaging, rather, they could be viewed as progressive and potentially uplifting for both the country and cryptocurrencies in general.
On April 11, the Australian government, through the Australian Transaction Reports and Analysis Centre (AUSTRAC), announced tangible plans to implement new rules on cryptocurrency exchanges. The major one being that: “Digital currency exchanges (DCE), with a business operation located in Australia must now register with AUSTRAC and meet the Government’s AML [anti money laundering]/CTF [counter terrorism financing] compliance and reporting obligations,” the announcement read.
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