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Australia introduces stricter regulations for cryptocurrency oversight

Stricter measures for HIGH-risk sectors: The proposed rules focus on improving oversight of HIGH-risk sectors such as cryptocurrency exchanges and real estate. Businesses will need to strengthen customer due diligence and comply with tougher reporting obligations to mitigate financial crime.

Stakeholder involvement encouraged: Public consultation on the proposed AML/CTF regulations is open until February 14, 2025. AUSTRAC invites feedback from stakeholders in the crypto and financial services sectors to shape the final regulations.

This is community-generated content, not advice from ONUS.
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