FTX Among First Casualties as Australia Purges Dormant Crypto Exchanges

Australia’s financial intelligence agency AUSTRAC is taking decisive action to clean up its cryptocurrency exchange registry, targeting inactive platforms with a ’use it or lose it’ ultimatum. Among the first to be removed are FTX Express and AccE Australia, signaling heightened regulatory scrutiny ahead of the federal election on May 3, where crypto regulation is a key topic.

Australian Watchdog Cracks Down on Dormant Crypto Exchanges

Australia’s financial intelligence agency AUSTRAC is purging inactive cryptocurrency exchanges from its registry, signaling a tightening oversight of the digital asset sector. The regulator has issued a ’use it or lose it’ ultimatum to dormant platforms, with FTX Express and AccE Australia among the first casualties of this cleanup.

The crackdown precedes Australia’s May 3 federal election, where cryptocurrency regulation has emerged as a contentious policy issue. market participants are increasingly demanding clearer regulatory frameworks as the government balances innovation with consumer protection.

AUSTRAC’s enforcement action reflects growing global scrutiny of crypto businesses. By targeting inactive registrations, authorities aim to prevent potential misuse of dormant corporate entities for illicit financial activities while streamlining the operational landscape.

FTX Expands Asset Recovery Efforts with Legal Action Against NFT Star and Delysium

FTX has escalated its campaign to reclaim lost assets by filing lawsuits against NFT marketplace NFT Star and AI platform Delysium. The bankrupt exchange alleges both firms defaulted on token delivery obligations under SAFT agreements—pre-launch fundraising instruments widely used in crypto ventures.

Court documents reveal FTX made repeated unsuccessful attempts to secure the undelivered tokens before resorting to litigation. "These assets rightfully belong to FTX," stated representatives of the defunct exchange, framing the action as critical to creditor restitution efforts.

The move forms part of FTX’s comprehensive asset recovery strategy following its dramatic collapse. Legal teams continue tracing missing funds across multiple jurisdictions, with this latest action targeting contractual breaches rather than fraudulent transfers.