AUSTRAC Cancels 45 Crypto and Remittance Registrations in Year‑Long Sweep

Australia’s financial intelligence regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC), announced that it has cancelled, suspended or refused to renew a total of 45 registrations for crypto‑asset service providers (VASPs) and remittance businesses over the past year.

Scope of the action

The regulator said the measures focused on entities that were inactive, insolvent, or otherwise unable to meet compliance obligations. It also cited failures to report material changes, incorrect registrations and significant money‑laundering or terrorism‑financing risks as grounds for the actions.

Impact on specific providers

Among the entities highlighted was BA Digital Ventures, operating as GetCoins, whose virtual‑asset registration was cancelled in June after customer complaints. AUSTRAC said GetCoins had been exploited by organized cryptocurrency investment scams and that its removal, coordinated with the National Anti‑Scam Centre, helped disrupt that activity.

Other providers noted in AUSTRAC’s public VASP register include Cryptolink, Self Custody, Jam Xchange and Coinsec Australia. The regulator also opened an investigation into Western Union and suspended Cryptolink’s crypto‑ATM network.

Enforcement outcomes

AUSTRAC CEO Brendan Thomas stated that businesses whose registrations were cancelled can no longer operate in Australia. Individuals linked to some of the affected entities have been referred to Australian and overseas law‑enforcement or regulatory partners.

Regulatory context

The actions form part of AUSTRAC’s intensified scrutiny of high‑risk payment businesses, aiming to strengthen Australia’s anti‑money‑laundering and counter‑terrorism‑financing framework.