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Australia Tightens Crypto Regulation With 45 Firms Removed
Australia’s financial intelligence regulator has suspended, cancelled, or denied renewal of registrations for 45 crypto and remittance businesses over the past year. AUSTRAC said the actions covered dormant and insolvent firms, inaccurate registration information, unreported material changes, and entities considered exposed to higher money launde...
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Nexo Australia Begins Offering Credit Lines Against Cryptocurrency Collateral
Nexo Australia has launched cryptocurrency-backed credit lines after receiving credit representative authorisation under Australia’s consumer credit framework. Eligible customers can borrow Australian dollars or stablecoins against their digital assets, with advertised annual interest rates ranging from 0.9 percent to 21.9 percent. The products a...
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Australia Shuts Down Cryptolink Bitcoin ATMs Over ‘Basic Reporting’ Lapses
Australia’s financial crime regulator has suspended Cryptolink’s registration for three months, forcing the operator to temporarily shut down its Bitcoin ATMs across the country. AUSTRAC said the company failed to meet basic anti-money laundering reporting obligations and did not respond adequately to information requests. The action follows an...
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Australia Limits Crypto ATM Transactions to AUD 5,000 in Bid to Curb Scams, Money Laundering
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has enforced a deposit and withdrawal limit of AUD 5,000 (roughly Rs. 2.78 lakh) on transactions processed via crypto ATMs. The agency highlighted that elderly individuals are purchasing cryptocurrencies via cash -- with many falling prey to notorious scams and fraudulent schemes.
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Bitcoin Flounders in Australia as Regulatory Worries Bite
Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.
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Australia Tightens Crypto Regulation With 45 Firms Removed
Australia’s financial intelligence regulator has suspended, cancelled, or denied renewal of registrations for 45 crypto and remittance businesses over the past year. AUSTRAC said the actions covered dormant and insolvent firms, inaccurate registration information, unreported material changes, and entities considered exposed to higher money launde...
-
Nexo Australia Begins Offering Credit Lines Against Cryptocurrency Collateral
Nexo Australia has launched cryptocurrency-backed credit lines after receiving credit representative authorisation under Australia’s consumer credit framework. Eligible customers can borrow Australian dollars or stablecoins against their digital assets, with advertised annual interest rates ranging from 0.9 percent to 21.9 percent. The products a...
-
Australia Shuts Down Cryptolink Bitcoin ATMs Over ‘Basic Reporting’ Lapses
Australia’s financial crime regulator has suspended Cryptolink’s registration for three months, forcing the operator to temporarily shut down its Bitcoin ATMs across the country. AUSTRAC said the company failed to meet basic anti-money laundering reporting obligations and did not respond adequately to information requests. The action follows an...
-
Australia Limits Crypto ATM Transactions to AUD 5,000 in Bid to Curb Scams, Money Laundering
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has enforced a deposit and withdrawal limit of AUD 5,000 (roughly Rs. 2.78 lakh) on transactions processed via crypto ATMs. The agency highlighted that elderly individuals are purchasing cryptocurrencies via cash -- with many falling prey to notorious scams and fraudulent schemes.
-
Bitcoin Flounders in Australia as Regulatory Worries Bite
Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading.
