Australia Deregisters 45 Crypto and Remittance Entities
AUSTRAC has removed 45 cryptocurrency and remittance providers from its official register over the past year as part of efforts to combat organized financial scams.
Australia's financial intelligence agency, AUSTRAC, has removed 45 cryptocurrency and remittance service registrations over the past year. The regulator's nationwide sweep resulted in a combination of canceled, suspended, and unrenewed registrations across the sector.
Regulators noted that specific enforcement actions, including measures taken against provider GetCoins, were instrumental in breaking up organized investment scams targeting users.
As regulatory scrutiny increases and third-party platforms face potential disruption or closure, storing digital assets in secure self-custody ensures individuals maintain uninterrupted control over their private keys.
Source: Cointelegraph
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