Australia’s financial intelligence agency, the Australian Transaction Reports and Analysis Centre (AUSTRAC), has canceled, suspended, or refused to renew 45 cryptocurrency and remittance registrations over the past year. The yearlong regulatory sweep targeted providers that were inactive, insolvent, lacking operational capacity, or failing to meet strict Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) compliance standards.
AUSTRAC Chief Executive Brendan Thomas emphasized that businesses with canceled registrations are legally barred from operating, noting that several associated individuals have been referred to domestic and international law enforcement agencies. Among the high-profile enforcement actions was the June cancellation of BA Digital Ventures, trading as GetCoins, following consumer complaints. AUSTRAC, working alongside the National Anti-Scam Centre, revealed GetCoins was exploited by organized cryptocurrency investment scams.
The regulator’s public register reveals additional actions, including a three-month suspension of Cryptolink that forced its network of 96 crypto ATMs offline, alongside regulatory measures against Self Custody, Jam Xchange, and Coinsec Australia. Furthermore, AUSTRAC confirmed an active investigation into global money transfer giant Western Union. This enforcement campaign underscores Australia’s tightening regulatory oversight as authorities seek to eliminate systemic vulnerabilities across digital asset infrastructure and remittance corridors.
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