Australia’s AUSTRAC Cracks Down on Inactive Crypto Exchanges to Combat Fraud

Australian regulators are tightening oversight of dormant digital currency exchanges, warning operators to either update registration details or face removal from the official registry. The Australian Transaction Reports and Analysis Centre (AUSTRAC) identified inactive platforms among its 427 registered businesses as potential vectors for financial crime.

Scammers increasingly exploit inactive exchange listings to facilitate money laundering and fraudulent schemes, prompting AUSTRAC’s enforcement action. The regulator’s website outlines procedures for voluntary delisting, emphasizing compliance with anti-money laundering protocols. market participants view this as part of broader global efforts to legitimize cryptocurrency markets while eliminating bad actors.