Australia’s two exchanges will comply with the new AML-CTF cryptocurrency regulation

After the new AML-CTF regulation came into effect on April 3rd, Independent Reserve and CoinSpot confirmed that they have become the first two digital currency exchanges in Australia to comply with the new regulations. The legislation passed before the end of the year designated the Australian Transaction Reporting and Analysis Center (AUSTRAC) as the agency that monitors the circulation of local cryptocurrency. To a large extent, this means that digital currency exchanges are also subject to the same anti-money laundering and anti-terrorism financing laws as legal currency trading institutions such as banks.

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