AUSTRAC registers two more cryptocurrency exchanges

AUSTRAC registers two more cryptocurrency exchanges

Two more Australian cryptocurrency exchanges have been registered by AUSTRAC under rules that came into effect earlier this month.

NCX and join Independent Reserve and CoinSpot in complying with the same anti money laundering and counter-terrorism financing (AML-CTF) rules that apply to other finance sector participants such as banks.

Perth-based National Currency eXchange (NCX) said in a statement that it “confirms its compliance program will keep it in alignment with its AML-CTF obligations”.

“The completion of this registration allows NCX to continue to provide trading services in popular cryptocurrencies, such as Bitcoin, Ethereum, Litecoin and Bitcoin Cash, with further cryptocurrencies and upcoming ICOs to be added to the exchange later this year,” it said., meanwhile, said in a brief social media post on April 6 that it “is now officially regulated by AUSTRAC”.

“Together, ACX and AUSTRAC will be reducing the risk to consumers while preventing fraudulent activity from occurring,” it said.


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Source: AUSTRAC registers two more cryptocurrency exchanges – Finance – Software – iTnews

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