Australia Removed 45 Crypto and Remittance Registrations in the Past Year
(45 days ago) · 1 source · Summarized by CryptoBipto
Australian authorities reported that they removed 45 registrations from crypto and remittance service providers over the past year. The deregistrations reflect ongoing regulatory oversight of digital asset businesses operating in Australia.
WHY IT MATTERS
In Australia, crypto businesses must register with a government agency called AUSTRAC before they can legally operate — similar to how a restaurant needs a health permit to serve food. This registration is meant to ensure that crypto companies follow rules designed to prevent money laundering and other financial crimes. The fact that 45 registrations were removed in a single year shows that the government is actively checking whether registered businesses are following the rules, and pulling their permission to operate if they are not. For anyone new to crypto, this is a reminder that using a registered or licensed service does not guarantee it will remain in good standing — regulatory status can change.
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- cointelegraph.com
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