‘Use It or Lose It’: AUSTRAC Targets Inactive Crypto Firms Ahead of Regulatory Overhaul
The Australian Transaction Reports and Analysis Center (AUSTRAC) is contacting digital currency exchange operators (DCEs) suspected of shutting down trading for Gamble Act compliance notification. AUSTRAC aims to encourage them to defer registration or promote cancellations. CEO Brendan Thomas warns that these businesses can be exploited for money laundering, scams, and money mule activities. AUSTRAC…
