In brief
- AUSTRAC is contacting inactive crypto exchanges and warning they must deregister or face cancellation.
- Several firms, including FTX Express and AccE Australia, have already lost their registrations due to inactivity or insolvency.
- The crackdown comes ahead of Australia’s May 3 election, with calls mounting for clearer crypto regulation.
Australia’s financial watchdog has told dormant crypto businesses to “use it or lose it,” warning it will cancel registrations as part of a sweeping crackdown to protect consumers and curb criminal activity.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) said it is connecting with digital currency exchanges (DCEs) that appear inactive, urging them to voluntarily withdraw…
May 04 2025
May 04 2025
