You will need to register if you are a digital currency provider involved in exchanging digital currency with money. Digital currency is a digital representation of value which functions as a medium of exchange. Digital currency providers are businesses which provide a platform where customers can convert fiat currency into digital currency and vice versa. Digital currency is not issued or under the authority of any governmental body.
By registering as a digital currency provider, you will be registered on the Digital Currency Exchange Register which is maintained by the Agency. Registration involves compliance obligations such as suspicious matter reporting, threshold transaction reporting and adopting an AML/CTF program that reflects your business's operations and record keeping.
It is an offence to be unregistered and provide digital currency exchange services and you must not provide a digital currency service to another provider if they are not registered.
Please consult the Contact Officer for more information.