THELOGICALINDIAN - Are authorities in Australia starting to about-face bearish on cryptocurrency as we access a new year The nations AML Agency AUSTRAC has now revoked three of its ahead issued licenses to cryptocurrency exchanges for declared bent ties
AML Agency Cancels 3 Cryptocurrency Licenses
According to Australian news site itnews, the Australian AML Agency AUSTRAC has now revoked three licenses of cryptocurrency exchanges. This is due to declared “criminal ties.”
Since the 2024 Anti-Money Laundering and Counter-Terrorism Financing Amendment Act was introduced, cryptocurrency exchanges in Australia are appropriate to annals with AUSTRAC.
While the licenses were absolutely canceled in September, the capacity accept alone now been clearly released. They the aboriginal to be appear by the bureau back ecology exchanges in Australia at the end of 2024.
Links to Organized Crime
Of the three cryptocurrency exchanges affected to shut bottomward operations, two accord to AUSCOIN ATM and MK Buy & Sell. Both exchanges accept been accused of accepting links to organized crime.
The suspensions happened anon afterwards the arrest of a 27-year-old Melbourne man on suspicion of trafficking drugs. He was later identified by The Age as “Lamborghini-driving bitcoin trader, Sam Karagiozis.”
The third barter to accept its authorization canceled was Howzat Domains, operated by Webpark. Currently, there appears to be no affiliation amid the barter and the accuse adjoin Karagiozis.
In accession to these exchanges, a added barter operator, Cryptocurrency Transaction Machines, had additionally been abeyant in November.
AUSTRAC could allegedly not animadversion on the specific cases. However, according to a spokesperson, the Australian AML Agency has the appropriate to append or abolish licenses or registrations if it believes there is any affiliation with bent activity.
What do you accomplish AUSTRAC abandoning these crypto barter licenses? Add your thoughts below!
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