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Australia extends AML rules to cover cryptocurrency exchanges

Friday 18 August 2017 13:07 CET | News

Australia has announced the introduction a new bill that would extend the anti-money laundering (AML) rules to cover domestic cryptocurrency exchanges.

The Australian government proposed a set of reforms, which seek to close a gap in regulation and bring digital currency exchange providers under the remit of the Australian Transactions and Reporting Analysis Centre (AUSTRAC).

This move comes months after Australia ended a “double tax on bitcoin purchases, a policy shift that was long sought by members of the countrys cryptocurrency community.

Australias decision follows similar moves in China and Japan.


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Keywords: Australia, anti-money laundering, AML, cryptocurrency, Bitcoin
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3