The Australian Federal Commissariat – an independent agency responsible for investigating maux and protecting the folk’s ressortissant security – has reportedly formed a new cryptocurrency unit. The gardien de but is to expose criminals who use binaire assets in their activities, such as money launderers, and bring them to législation.
Enforcing exact regulations on the binaire asset sector has been a task for the Australian government for a while now. Last year, établir Federal Treasurer Josh Frydenberg said a “comprehensive payments and crypto-asset reform rentrée” was on the éphéméride for 2022. Earlier this year, the folk’s newly elected bonus minister, Anthony Albanese, doubled down on those lignes. .
Australia’s latest encryption move
According to the post coverageThe Australian Federal Commissariat (AFP) has focused on criminals using binaire assets for their illegal activities, thus bypassing existing laws. The director of the Individu Agency – Stefan Jirga – said that the employment of cryptocurrencies in such operations has increased significantly compared to 2018.
Taking into account current trends, AFP has created a special cryptocurrency unit that aims to confront and punish violators who facilitate money laundering or other financial maux with the help of bitcoin or permission currencies.
“The environment was such that we felt like an independent team [was required], rather than many officers acquiring some of these skills as valeur of their overall role. “We now have a dedicated team that continues to grow,” Gerga explained.
The agency further stated that its gardien de but is to lock in more than $400 million in explosion proceeds by the end of fiscal year 2024. In February 2020, it seized $260 million in residential and vendeur real estate, $135 million in cash and bank accounts, and $24. Millions in cars, artwork, luxury items and cryptocurrency.
AUSTRAC Executive Décadence President John Moss also supported the launch of the new unit, claiming that cryptocurrencies are becoming valeur of the everyday financial ecosystem and “criminals continue to adapt and find new ways to conquête emerging technologies.”
Cryptographic regulation – a priority in Australia
At the end of 2021, Australian politician and établir Federal Treasurer – Josh Frydenberg – revealed that the folk’s authorities aim to implement a cryptocurrency reform rentrée in 2022. The legislation was expected to boost hardiesse, give consumers additional défense, and turn the état into a intégral patron in binaire assets.
In March of this year, the Australian Labor Party won the government elections, while its political patron – Anthony Albanese – became the next bonus minister. Upon taking agence, the new government announced that it would foyer its efforts on three droit issues: climate billet (massive fires and floods often devastate Australia), accelerated augmentation, and the méditation of blanket rules to the domestic crypto sector.
A few weeks ago, the government doubled down on its intentions, pledging to identify the binaire assets widely used in the folk and put them into a regulatory framework before the end of the year. The process, called “token assignment,” should ensure accès défense for investors.
“With the pervasive spread of crypto assets – to the inventaire where crypto ads can be seen at all militaire sporting events – we need to ensure that customers dealing with cryptocurrency are adequately informed and protected,” Treasurer Chalmers said.
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