Inactive crypto exchanges face deregistration, Australia’s watchdog warns
Australia’s financial intelligence agency is cracking down on inactive crypto exchanges, warning they could be deregistered to prevent misuse by criminals.
The Australian Transaction Reports and Analysis Centre — also known as AUSTRAC — said many crypto exchange providers are no longer operating, yet remain on the official register, and now risk being deregistered if they fail to voluntarily withdraw.
In a Tuesday press release, AUSTRAC said there are currently 427 registered crypto exchanges, but AUSTRAC is contacting those that appear to no longer be trading.
“Businesses registered with AUSTRAC are required to keep their details up to date; this includes details about services that are no longer…
