Share this:
Australia Joins China and Japan in Trying To Regulate Digital Currency Exchanges
Published on August 17, 2017 at 09:20AM
Following moves by China and Japan to regulate digital currencies, Australia is attempting to crackdown on money laundering and terrorism financing with plans to regulate bitcoin exchanges. From a report: “The threat of serious financial crime is constantly evolving, as new technologies emerge and criminals seek to nefariously exploit them. These measures ensure there is nowhere for criminals to hide,” said Australia’s Minister for Justice Michael Keenan in a press release. The Australian government proposed a set of reforms on Thursday which will close a gap in regulation and bring digital currency exchange providers under the remit of the Australian Transactions and Reporting Analysis Centre. These exchanges serve as marketplaces where traders can buy and sell digital currencies, such as bitcoin, using fiat currencies, such as the dollar. The reform bill is intended to strengthen the Anti-Money Laundering and Counter-Terrorism Financing Act and increase the powers of AUSTRAC.
Read more of this story at Slashdot.
More Stories
‘My 401k Misses You’: Black Woman Pumped To Meet Donald Trump In Philadelphia – July 18, 2023 at 04:56PM
Energy Provider Warns of Impending ‘Crisis,’ ‘Blackout Conditions’ Driven By Biden Plans – July 18, 2023 at 04:20PM
Dog starts barking at cows crossing a bridge, so the cows stop to have a look. – July 17, 2023 at 02:27PM