In the land down under, where kangaroos bounce and BBQs sizzle, the great Anti-Money Laundering gendarmes have decided to wield their regulatory batons against a motley crew of 13 remittance service brigands and crypto exchange scoundrels! But behold, over 50 more are under their magnifying glasses for not so wholesome practices. 🕵️♂️💼
Brendan Thomas, the illustrious commander of the Australian Transaction Reports and Analysis Centre (AUSTRAC), announced on this fine day of February 17, that a stern refusal was issued for the registration renewal of six providers. Why, you ask? Because their key personnel seemed to have a fondness for serious offenses, their previous convictions reflecting humorously on their honesty—if only irony could pay the bills! 😂
In an attempt to get the malfeasant back in line, over 50 other money exchange hustlers and crypto cowboys have been sent alerts—yes, the proverbial “this is your last warning” notes, hinting at potential familial embraces with regulatory action! 📉💣
“This blitz is a result of our deep-dive analysis, like a surgeon with a scalpel, exposing the rampant non-reporting and cheekily under-reporting in the sectors of remittance and digital currency exchanges,” quoth the esteemed Thomas.
But wait—there’s more! Last year, our diligent watchdogs initiated a quest to hunt down these elusive, non-compliant providers, promising to improve the audacity of the industry’s reporting on suspicious matters—oh, what a noble quest! 🏰🧐
Yet two other providers found themselves in the naughty corner, their registration adorned with conditions for failing to meet the deadline. Now, they stand on a precarious precipice, for a misstep could lead to a most uncomfortable suspension or a cancellation as grim as a winter’s evening. Meanwhile, three others, rebuffed from registration, have thrown in the towel and packed their bags, no longer operating under the sunny Australian skies.
Oh, and let us not forget the dramatic downfall of two crypto exchanges — the FTX Australia rogue and the ever-mysterious Zipmex Australia — both cruelly evicted from the illustrious Digital Currency Exchange Register due to their unfortunate insolvencies. Talk about a digital Houdini act! 🎩✨
AUSTRAC reports a staggering 417 digital exchanges and an eye-watering count of 5,112 remittance registrations. What a frenetic marketplace of intrigue! 🤑
As last year slipped away into the annals of memory, Thomas proclaimed the agency’s newfound focus on the cryptocurrency bazaar in 2025, targeting those rogue ATM providers who might be dancing on the edge of Anti-Money Laundering laws. Step lightly, dear providers! 💃🎭
Australia, the third-largest haven for Bitcoin (BTC) and crypto ATMs, now boasts over 1,453 ATMs—a dazzling rise from a humble 67 just last August! Talk about a tech miracle—or perhaps a financial rollercoaster? 🎢😅
Amid all this tumult, AUSTRAC has proposed more stringent Anti-Money Laundering and counter-terrorism financing rules, as if tightening the reins on wayward steeds—ever so necessary to combat the nefarious act of financial crime! 🎩🚓
Meanwhile, the Australian Securities and Investment Commission has joined the fun by tossing out a consultation paper proposing guidance for crypto, dictating that many digital treasures are financial products that must be licensed. The regulatory party has just started! 🎊📜
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2025-02-17 09:06