At least these are just new AML rules -- nothing we're not already used to seeing. Exchanges will need to register with the Australian authorities, implement KYC procedures and report suspicious transactions involving physical currency of $10,000 or more.
The new Australian legislative guidelines for the operation of cryptocurrency trading were introduced on 3 April 2018. From now on, Australian digital exchange companies will be required to register and comply with anti-money laundering / anti-terrorism financing ( AML / CTF) laws.
Care to share the links?
As soon as all countries start to require registration for exchanges, which I believe is just a matter of time, then plenty of exchanges will either have to halt operations, or do what they need to do in order to comply with the law.
The real problem I see is licensing. At least that's the problem in the US. The state-by-state MSB licensing scheme is a massive barrier to entry.
It's basically what made Binance halt its operations in Japan, and that till they are granted the approval they have been waiting for since earlier this year.
Apparently, many exchanges have operated unregistered in Japan for years. For whatever reason, they singled out Binance, maybe because they had some physical operations in Japan. I still don't see how moving to Malta changes anything unless they start prohibiting Japanese residents from trading there.
