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Digital currency exchange provider actions

Digital currency exchange provider information

  • Reconsideration of an AUSTRAC decision
  • Suspension of registration of digital currency exchange providers
  • Refusal to renew the registration of digital currency exchange providers
  • Cancellation of registration of digital currency exchange providers

Digital currency exchange providers (DCEPs) in Australia are required to apply to AUSTRAC for registration. It is an offence to provide digital currency exchange services if an individual or business is not registered with AUSTRAC.

AUSTRAC maintains a register of DCEPs called the Digital Currency Exchange Register (DCER). The AUSTRAC Chief Executive Officer (CEO) may suspend or cancel the registration of a DCEP if satisfied that it is appropriate to do so having regard to:

  • whether the continued registration of the person involves, or may involve, a significant money laundering, financing of terrorism or other serious crime risk; or
  • one or more breaches by the person of a condition of registration; or
  • other matters as are specified in the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1) (AML/CTF Rules).

Reconsideration of an AUSTRAC decision

Reviewable decisions are set out in section 233B of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). A person affected by a reviewable decision may apply to the AUSTRAC CEO for the decision to be reconsidered. The application must be made within 30 days from when the applicant is informed of the decision.

Application to review an AUSTRAC decision (Word KB)

Refusal to renew the registration of DCEPs

Actions to refuse an application for renewal of registration on the DCER are undertaken pursuant paragraph 76.9 of the AML/CTF Rules.

Date Entity name
Nil  

Suspension of registration of DCEPs

Actions to suspend registration on the DCER are undertaken pursuant to paragraph 76.11 of the AML/CTF Rules.

Date Entity name Notice
Nil    

Cancellation of registration of DCEPs

Actions to cancel registration on the DCER are undertaken pursuant to section 76J of the AML/CTF Act.

Date Entity name
Nil  

Refusal of registration of DCEPs

Actions to refuse an application for registration on the DCER are undertaken pursuant section 76E of the AML/CTF Act.

Date Entity name
Nil  
Last modified: 14/01/2019 13:53