Australia moves to regulate bitcoins

As a first step, cryptocurrency providers in Australia will have to register themselves with AUSTRAC and comply with KYC norms. On Wednesday, in a move aimed minimizing the risks surrounding cryptocurrencies, Australia has brought the country’s cryptocurrency providers under the purview of its financial intelligence unit, so as to monitor and take necessary action against…

Australia ramps up efforts to tighten money-laundering laws midst a fresh scandal at the Commonwealth Bank of Australia

The Australian government seeks to empower its financial intelligence watchdog with investigative and enforcement powers. Australia has proposed enabling stronger money laundering laws, including bringing bitcoin providers under the jurisdiction of the its financial intelligence unit, following yet another fresh scandal at one of its biggest banks. The Australian has stated it would table a…