Registration as a Digital Currency Exchange Provider - Australian Government

Description

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.

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible, you must:

  • obtain a national police certificate or national police check before submitting your application
  • complete and submit an AUSTRAC business profile form (ABPF)
  • submit details regarding the nature, legal form, status and structure of your business
  • submit information regarding if you or any of your key personnel have been charged, prosecuted or convicted in relation to money laundering, terrorism, fraud and other serious offences or have been subject to any civil or criminal proceedings
  • pay any relevant fees.

Please consult the Contact Officer for more information regarding eligibility requirements.

Duration

Must renew every 3 years.

Fees

Fees Details for this service in table format.

Task Type Business Structure Description
Apply Application All

Please consult the Contact Officer for information on forms to be submitted.

Forms

Act(s) name

Anti-Money Laundering and Counter-Terrorism Financing Act 2006 AG

Regulation(s) name

Anti-Money Laundering and Counter Terrorism Financing Regulations 2008 AG

Administering agency

Australian Transaction Reports and Analysis Centre

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.

AUSTRAC Call Centre

Australian Transaction Reports and Analysis Centre

Mailing address: PO BOX 5516
West Chatswood, New South Wales 1515
Toll Free: 1300 021 037
Fax: 03 8636 0508
Email: contact@austrac.gov.au
Website: Australian Transaction Reports and Analysis Centre (Opens in new window)