Australian Cryptocurrency Exchanges Must Register This Week

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Cryptocurrency exchanges in Australia must now follow money laundering rules published by the Australian Transaction Reports and Analysis Centre, being known more colloquially as AUSTRAC. Going forward, they must:

Verify the identities of all clients.
Report any suspicious matters.
Report transactions involving physical currency of AUD $10,000.
Retain physical records for seven years.
A six-month grace period is allowed during which AUSTRAC will only carry out enforcement action if a company fails to take reasonable steps to comply, although they must register by May 15th 2018.