Digital Currency Exchange Registration
AUSTRAC registration for digital currency exchange providers enabling exchange between fiat and digital currencies with mandatory AML/CTF program compliance.
AML/CTF Act 2006, AUSTRAC Regulations
Capital Required
No statutory minimum; AUSTRAC may require adequate resources
Timeline
2-4 months
Fees
AUD 0 registration (free) + compliance costs
Regulatory Body
Australian Securities and Investments Commission (ASIC) / AUSTRAC
Legislative Framework
Australian Securities and Investments Commission Act, Anti-Money Laundering and Counter-Terrorism Financing Act 2006, Corporations Act 2001
Last updated: August 2025
Key Requirements
Enroll as Reporting Entity with AUSTRAC for AML/CTF compliance and reporting obligations.
Implement comprehensive AML/CTF program including customer identification, verification, and ongoing customer due diligence.
Develop transaction monitoring systems detecting suspicious activity with protocols for Suspicious Matter Reports (SMRs).
File Suspicious Matter Reports with AUSTRAC within 10 business days of detecting suspicious activity.
Establish compliance officer responsible for AML/CTF program implementation and staff training.
Maintain customer records and transaction documentation for minimum 7 years as reporting entity.
Conduct annual AML/CTF compliance audits with independent auditor assessing program effectiveness.
Application Process
Complete AUSTRAC online reporting entity enrollment form for digital currency exchange provider.
Prepare comprehensive AML/CTF program documentation detailing customer identification and verification procedures.
Document transaction monitoring system specifications and suspicious activity detection protocols.
Establish compliance officer role and provide CV demonstrating AML/CTF compliance expertise.
Submit AUSTRAC enrollment application with all supporting compliance documentation.
Receive AUSTRAC reporting entity registration confirmation and Customer Identification Number (CIN).
Commence digital currency exchange operations under AUSTRAC compliance oversight.
Expected Total Timeline
2-4 months
Ongoing Obligations
After obtaining your Digital Currency Exchange Registration, these are the continuing compliance requirements you must maintain.
File Suspicious Matter Reports with AUSTRAC within 10 business days of detecting suspicious activity.
Maintain customer identification records and ongoing due diligence documentation for all customers.
Conduct transaction monitoring with documented review of suspicious patterns and activity reporting.
Maintain detailed transaction records for minimum 7 years with customer information and transaction details.
File annual AML/CTF compliance audit reports prepared by AUSTRAC-approved auditors.
Implement staff training on AML/CTF procedures with documented completion and annual refresher training.
Report material incidents affecting customer funds or AML/CTF procedures to AUSTRAC within specified timeframe.
Cost Summary
Capital Requirement
No statutory minimum; AUSTRAC may require adequate resources
Application & Licensing Fees
AUD 0 registration (free) + compliance costs
Jurisdiction Setup Cost
$10,000-$40,000
Annual: $8,000-$25,000
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