TechFlow News, May 8: According to Decrypt, Australia’s financial intelligence agency AUSTRAC has launched two targeted regulatory initiatives against the virtual asset industry, focusing on anti-money laundering (AML) and countering the financing of terrorism (CFT) risk management practices of relevant entities. These initiatives cover 36 cryptocurrency-to-fiat over-the-counter (OTC) trading operators and 27 domestic cryptocurrency exchanges. Australia’s new regulations have expanded oversight from traditional cryptocurrency exchanges to virtual asset service providers (VASPs), including custodial and brokerage services; the Travel Rule for virtual asset transfers will become mandatory on July 1.
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