Australia Tightens Oversight on Inactive Crypto Exchanges to Mitigate Criminal Risks

Australia’s financial intelligence agency, AUSTRAC, is intensifying scrutiny on dormant cryptocurrency exchanges to prevent potential exploitation by criminal entities. The regulator has identified multiple registered platforms that appear inactive, posing systemic risks.

Of the 427 currently registered digital currency exchanges, AUSTRAC has begun contacting those showing no operational activity. The agency emphasizes that all registered entities must maintain current details, including status updates for discontinued services.

This crackdown reflects growing global regulatory efforts to bring accountability to crypto markets while combating illicit financial flows. The move comes as Australia seeks to balance innovation with robust oversight in its digital asset ecosystem.