In brief
- AUSTRAC has launched two targeted supervisory campaigns into Australia’s virtual assets sector as new regulatory reforms take effect.
- The campaigns assess money laundering risk management as Australia expands regulation beyond traditional exchanges.
- Australia’s new laws broaden coverage to include custody, brokerage, and other virtual asset service providers.
Australia’s financial intelligence unit AUSTRAC has launched two targeted supervisory campaigns into the country’s virtual assets sector as landmark anti-money laundering reforms take effect.
“AUSTRAC is checking how well crypto businesses in Australia are managing money-laundering risks, ahead of major new laws coming into force,” said the regulator’s Chief…
