Australia forms task force to tighten regulation of crypto ATMs
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2024-12-06 14:32 218
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According to news on December 6, Australia has established a task force to strengthen the management of encrypted ATM machines. The working group aims to ensure that digital currency exchanges (DCEs) that provide cryptocurrency ATM services meet minimum standards. The initiative aims to implement strong measures to prevent these machines from being used for fraudulent, fraudulent or criminal transactions. Under the Anti-Money Laundering/Counter-Terrorism Act 2006, DCEs, including cryptocurrency ATM providers, must register with the Australian Anti-Money Laundering and Counter-Terrorism Commission. In addition, they must monitor transactions, verify customer identity (KYC), report suspicious activity (SMR), and submit threshold transaction reports for cash transactions of $10,000 or more.