Starting July 1, all licensed crypto exchanges and virtual asset service providers will be required to collect and exchange information regarding senders and recipients for every crypto transfer, regardless of the transaction’s value.

Stricter Controls on Crypto Transfers

New regulations enforced by the Australian financial regulator, AUSTRAC, mandate that all regulated crypto platforms exchange data for every incoming and outgoing transaction. These requirements cover the full names of the sender and recipient, country of residence, the type of wallet used, and information about the involved crypto company where applicable.

Unlike some other regulatory regimes, the Australian rules apply regardless of the transaction size. This…