Australia Lays Down New AML/CTF Rules to counter money laundering and terrorism

[Divinityxd]

The Australian financial intelligence agency, AUSTRAC has published the new set of anti-money laundering and counter-terrorism financing rules for the Australia crypto exchanges that get into effect from today. The agency has given six months for operators to register or get penalized or criminally charged if failed to comply.

AUSTRAC’s AML/CTF rules for Australia crypto exchanges
Australia has just provided a new set of rules for digital currency exchanges to follow. These rules are basically aimed towards Anti-money laundering and terrorism financing (AML/CTF). AUSTRAC, the financial intelligence agency of the country just published these rules on its official website that provides the crypto exchange platforms enough time to ensure their compliance with these regulations.  

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[orions.belt19]

It's not a surprise for Australia to take such action. The authorities would always want to avoid money laundering to occur within their country. So long as this does not deprive the crypto users and exchanges in their country, then I don't see any harm in having these rules. This should protect and safeguard their citizens and crypto-users in their country as well from said financial terrorists or potential scammers even.