Australia’s AUSTRAC cancels, suspends or rejects 45 crypto, remittance registrations

Australia’s financial intelligence agency AUSTRAC said it has canceled or suspended registrations, or refused renewals, for 45 cryptocurrency and remittance service providers over the past year. The affected firms included companies that had ceased operations or become insolvent, as well as businesses deemed at high risk for money laundering and terrorism financing. AUSTRAC said companies with canceled registrations can no longer provide related services. In June, CoinNess reported AUSTRAC had revoked virtual asset service provider registration for GetCoins, which had been known as having been exploited in an organized cryptocurrency investment scam.