TechFlow, April 29 — According to Decrypt, the Australian Transaction Reports and Analysis Centre (AUSTRAC) has launched a "use it or lose it" initiative targeting inactive cryptocurrency exchanges, requiring those appearing no longer operational to voluntarily cancel their registration or face compulsory deregistration. AUSTRAC Chief Executive Brendan Thomas said these inactive entities pose a "high risk" of being exploited by criminals. Currently, AUSTRAC has 427 registered digital currency exchanges, but believes many are no longer operating. Several companies, including FTX Express, have already been deregistered due to inactivity or bankruptcy.
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