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Dec. 7, 2018
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The Australian Parliament has finally adopted a “Telecommunications and Other Legislation Amendment (Assistance and Access) Bill 2018”, according to which fintech companies operating in the country are obliged to cooperate with law enforcement agencies and provide access to encrypted data, Reuters reports.

Australian Prime Minister Scott Morrison said 95% of people who are under the supervision of law enforcement agencies use services with the cryptography encryption function of correspondence.

It’s expected that the law the law will affect companies such as Google, Facebook, Apple, and others. Police and security services will have the right to require encryption keys from technology companies, as well as backdoor capabilities that will allow them to independently access devices and services.

However, companies won’t be able to notify users of cooperation with law enforcement agencies.

Earlier, one of the largest and oldest Australia’s cryptocurrency exchanges Bit Trade officially announced the start of its own public crowdfunding campaign. The exchange states “a new wave of adoption is on the horizon” and it has the team and tools to facilitate the upcoming growth.

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