Australia Monitors Crypto Transactions to Prevent Russia’s Sanctions Evasion

Australia Monitors Crypto Transactions to Prevent Russia’s Sanctions Evasion
A photo shows some cryptocurrencies. Pixabay
Alfred Bui
Updated:
Australian Transaction Reports and Analysis Centre (AUSTRAC) has joined other financial intelligence agencies to track down the Russia-related money flows via cryptocurrency transactions to prevent the country from evading international sanctions.
The move comes as Australia has included cryptocurrency, or crypto, in its sanctions regime against Russia, which imposes asset freezes on listed individuals and entities from the nation while prohibiting Australians from directly or indirectly providing assets to them.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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