AUSTRAC removes 45 crypto and remittance registrations after yearlong compliance action

AUSTRAC removed 45 crypto and remittance service provider registrations in a yearlong compliance enforcement sweep, according to multiple reports ^{[1] [2] [3]}.

One report says AUSTRAC’s removals included registrations that were cancelled, suspended, or unrenewed, and that the agency’s action against GetCoins helped disrupt organized investment scams ^[3].

Another report says AUSTRAC cited reasons including inactivity, insolvency, reporting failures, and crime risks for the removals ^[2].

AUSTRAC oversees a mandatory registration regime for digital currency exchanges and remittance dealers operating in Australia, and one source characterizes the removals as targeting unregistered or non-compliant digital currency and money transfer operators ^[4].