According to the ABC Radio Program broadcast, Australian Transaction Reports and Analysis Centre (AUSTRAC) is tightening up surveillance on crypto exchanges.
The Deputy Chief Executive of AUSTRAC, Brad Brown, said that any cryptocurrency exchange or provider that operates in Australia should be registered with AUSTRAC.
“They [cryptocurrency exchanges] should have an electronic footprint and meet anti-money laundering requirements,” Brown said in interview to ABC Radio.
Earlier, Australia shared its plan to become one of the leading e-governments by 2025 and revealed initiative “Making Money Smart”, which is planned to improve the overall experience of participants and service providers in the NDIS by building programmable money.