The new legislative guidelines australian for the regulation of exchanges of digital currencies have been introduced on April 3, 2018. Now, the australian companies for the exchange of crypto-currencies will be required to register and comply with these devices. These regulations have the objective of limiting the risks of money laundering and financing of terrorism.
Check out the details of this announcement in English below :
Companies exchange subject to the requirements of AML/CFT
The new regulations are to australian related to crypto-currencies have been officially adopted. They force the companies to exchange digital currencies to comply with AML/CTF. The companies operating in this sector must now register with the australian Centre for reporting and analysis of transactions (AUSTRAC). This authority has released a document describing the main obligations of the companies of trade of crypto-currencies.
Source : Mohamed Hassan, Pixabay. The australian authorities have passed new regulations regarding crypto-currencies.
In addition to these devices, AML/CTF, which allow us to identify, mitigate and manage the risks of money laundering and financing of terrorism, exchange platforms australia must also verify the identities of their clients and to report to AUSTRAC suspicious transactions as well as transactions involving currencies, with a value of more than $ 10,000.
The companies have a period of 6 months to comply with these new rules
The AUSTRAC provides for a time limit of 6 months for the implementation of this new law. During this period, this authority may not take enforcement action if the company decides to comply with it. During these six months, the existing companies can continue to provide their services. However, they need to achieve their registration. They have until may 14 to do so. The AUSTRAC has warned that companies which are not registered will be subject to prosecution.
Last week, the tax authorities in australian have surveyed Australians on how to tax the digital currency. They have developed a proposal for a law on the taxation of crypto-currencies.
Source : NewsBitcoin