Australia’s financial intelligence and anti-money laundering unit AUSTRAC has just rolled out new laws for Australian cryptocurrency exchanges. The new laws mean that all Australian cryptocurrency exchanges will now need to register with the Government to ensure they are meeting regulatory requirements.
We view regulation as much needed progress and we are firm believers that the best and fastest way for the cryptocurrency market to grow is through the introduction. As we have mentioned before, regulation will also provide access for institutional investors and large-scale corporation to invest in his space.
We firmly believe that the legitimacy of cryptocurrency is hinged upon government acceptance and we think these new laws are a positive step towards mass cryptocurrency adoption.
Read the official release here.