Australian Regulations for Cryptocurrency Exchanges Introduced

Australia’s new legislative guidelines for the operation of cryptocurrency exchanges were introduced on the 3rd of April 2018. From now on, Australian digital currency exchange businesses will be required to register and comply with anti-money laundering/counter-terrorism financing laws. Australian virtual currency exchanges must also identify and verify the identities of their customers, keep certain records for seven years, and report suspicious matters and transactions involving physical currency of $10,000 or more to the Australian Transaction Reports and Analysis Centre.

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