Australia Cracks Down on Inactive Crypto Exchanges
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Australia’s financial watchdog is taking decisive action against dormant cryptocurrency exchanges that remain listed on official registries. The Australian Transaction Reports and Analysis Centre (AUSTRAC) announced plans to purge inactive platforms from its records, targeting operations that have ceased trading but maintain regulatory status.
"We’re warning these businesses: use it or lose it," declared AUSTRAC CEO Brendan Thomas. The regulator has identified 427 registered crypto exchanges, many of which appear abandoned yet still occupy slots on the government-approved register. Authorities fear these ghost platforms could be acquired by bad actors seeking to exploit existing licenses for illicit purposes.
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