Two more Australian cryptocurrency exchanges have been registered by AUSTRAC under rules that came into effect earlier this month.

NCX and ACX.io join Independent Reserve and CoinSpot in complying with the same anti money laundering and counter-terrorism financing (AML-CTF) rules that apply to other finance sector participants such as banks.
Perth-based National Currency eXchange (NCX) said in a statement that it “confirms its compliance program will keep it in alignment with its AML-CTF obligations”.
“The completion of this registration allows NCX to continue to provide trading services in popular cryptocurrencies, such as Bitcoin, Ethereum, Litecoin and Bitcoin Cash, with further cryptocurrencies and upcoming ICOs to be added to the exchange later this year,” it said.
ACX.io, meanwhile, said in a brief social media post on April 6 that it “is now officially regulated by AUSTRAC”.
“Together, ACX and AUSTRAC will be reducing the risk to consumers while preventing fraudulent activity from occurring,” it said.
Legislation that passed at the end of last year handed the Australian Transaction Reports and Analysis Centre (AUSTRAC) the authority to monitor local cryptocurrency exchanges.
In addition to having to comply with AML-CTF rules, exchanges must also report suspicious matters and threshold transactions, and keep records of the identity of customers.
Until October 2, AUSTRAC is operating under an amended set of “policy principles” that essentially give digital exchanges some leeway in complying with the new rules.