pc
nid 91707
Apr 02, 2026
kgurnani@vixio.com
Australia
AUSTRAC
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2054 charsAustralia Expands Anti-Money Laundering Laws to Strengthen Oversight of Virtual Asset Service Providers
On 2 April 2026, the Australian Transaction Reports and Analysis Centre (AUSTRAC) announced expanded anti-money laundering and counter-terrorism financing (AML/CTF) laws designed to strengthen safeguards against money laundering through cryptocurrency and other virtual assets.
The reforms introduce greater regulatory oversight of the virtual asset sector, which AUSTRAC has identified as a high money-laundering risk. A key change involves renaming digital currency exchange (DCE) providers to the internationally recognised term virtual asset service providers (VASPs), reflecting the expanding range of crypto-related products and services now captured under Australia's AML/CTF regime. The reforms align Australia with global standards and close known gaps that criminals have exploited.
Prior to the legislative changes, AUSTRAC conducted a targeted review of the DCE register in late 2025, implementing a "Use It or Lose It" compliance blitz. This initiative engaged with 128 inactive businesses, resulting in 62 businesses exiting the sector through registration action or voluntary withdrawal. AUSTRAC CEO Brendan Thomas emphasised that the agency cleaned up the register to prevent misuse for money-laundering purposes, ensuring registered businesses maintain current details and actively provide regulated services.
A searchable public VASP register is now publicly available, providing greater transparency and making it harder for criminals to operate through inactive or shell entities. Under the new laws, all businesses providing virtual asset services must register with AUSTRAC and comply with Australia's AML/CTF obligations. The virtual asset sector remains a priority focus for AUSTRAC, as outlined in the national risk assessment and AUSTRAC's 2025–26 regulatory priorities.
REFERENCES:
AUSTRAC. Public register makes it harder for criminals to launder money through crypto. Available at: https://www.austrac.gov.au/business/news-and-media/news-and-updates/public-register-makes-it-harder-criminals-launder-money-through-crypto
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1575 charsAustralia Expands Anti-Money Laundering Laws to Strengthen Oversight of Virtual Asset Service Providers
On 2 April 2026, the Australian Transaction Reports and Analysis Centre (AUSTRAC) announced expanded anti-money laundering and counter-terrorism financing (AML/CTF) laws designed to strengthen safeguards against money laundering through cryptocurrency and other virtual assets.
The reforms introduce greater regulatory oversight of the virtual asset sector, which AUSTRAC has identified as a high money-laundering risk. A key change involves renaming digital currency exchange (DCE) providers to the internationally recognised term virtual asset service providers (VASPs), reflecting the expanding range of crypto-related products and services now captured under Australia's AML/CTF regime. The reforms align Australia with global standards and close known gaps that criminals have exploited.
Prior to the legislative changes, AUSTRAC conducted a targeted review of the DCE register in late 2025, implementing a "Use It or Lose It" compliance blitz. This initiative engaged with 128 inactive businesses, resulting in 62 businesses exiting the sector through registration action or voluntary withdrawal.
A searchable public VASP register is now publicly available, providing greater transparency and making it harder for criminals to operate through inactive or shell entities. Under the new laws, all businesses providing virtual asset services must register with AUSTRAC and comply with Australia's AML/CTF obligations. The virtual asset sector remains a priority focus for AUSTRAC, as outlined in the national risk assessment and AUSTRAC's 2025–26 regulatory priorities.