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![]() The Australian Transaction Reports and Analysis Centre (Austrac), the financial intelligence agency of the country, has received the go-ahead for monitoring bitcoin exchanges. ![]() 10.Dec.17 9:38 AM By Daria Zaytseva Photo Toinnov.com |
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The news means that the exchange of cryptocurrencies in the country will have to register in Austrac and be placed in a special register. They will also have to establish other procedures, including countering the risks of money laundering and terrorism financing, checking the identity of clients and maintaining some records for seven years, a ZDNet reports.
The bill is the second prominent part of the Australian legislation which should be adopted in the last few months. |