AUSTRAC Launches Supervision Campaigns Targeting 36 OTC Operators and 27 Crypto Exchanges

According to AUSTRAC, on May 8, the regulator launched two supervisory campaigns targeting Australia's virtual asset sector, engaging with 36 over-the-counter operators and 27 local crypto exchanges. The campaigns assess how businesses are managing anti-money laundering risks ahead of expanded regulatory reforms.

Australia's new anti-money laundering framework, which took effect on March 31, broadens coverage beyond traditional exchanges to include Virtual Asset Service Providers (VASPs) such as custody and brokerage services. Additional Travel Rule requirements for virtual asset transfers will become mandatory on July 1.