Australia Considers Crackdown on Crypto ATMs With New Powers

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Australia’s national financial intelligence agency would receive powers to restrict or ban crypto ATMs under new draft legislation in the works from the country’s minister for cybersecurity and home affairs, Tony Burke.

Burke said during a speech at the National Press Club on Thursday that the draft legislation will give the Australian Transaction Reports and Analysis Centre (AUSTRAC) the ability to restrict or prohibit “high-risk products,” which include crypto ATMs

While regular bank-run ATMs are also used for scams and illegal activities,…



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Australia Considers Crackdown on Crypto ATMs With New Powers


Australia’s national financial intelligence agency would receive powers to restrict or ban crypto ATMs under new draft legislation in the works from the country’s minister for cybersecurity and home affairs, Tony Burke.

Burke said during a speech at the National Press Club on Thursday that the draft legislation will give the Australian Transaction Reports and Analysis Centre (AUSTRAC) the ability to restrict or prohibit “high-risk products,” which include crypto ATMs

While regular bank-run ATMs are also used for scams and illegal activities,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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