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.
Well, to be honest, I can say that this is a good step taken by the Australian government and this will relief both the users and the Exchange websites so that they both can deal the cryptocurrency services in a much better way. I can tell you that by this way Terrorism and other fraudulent and money laundering activities will be slowed down to a big extent and they will not like to try or use it the cryptocurrency for anymore. I wish to see this kind of regulation to be levied in India too.
