Australian Money-Laundering Watchdog Moves to Regulate Cryptocurrency Providers

Australian Money-Laundering Watchdog Moves to Regulate Cryptocurrency Providers
A persons looks at a cellphone displaying virtual currencies exchange rates at La Maison du Bitcoin in Paris on Jan. 17, 2018. GEOFFROY VAN DER HASSELT/AFP/Getty Images
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SYDNEY—Australia has brought the country’s cryptocurrency providers under the purview of its financial intelligence unit, a move it hopes will help minimize the risk of money laundering, terrorism financing and cybercrime.

Effective immediately, all so-called digital currency exchange providers with operations in Australia must register with AUSTRAC, the government agency said in a statement.