Australian Regulators Push for Sweeping Powers to Curb Crypto-Enabled Financial Crime
New Regulatory Oversight Targets Digital Assets Australian financial crime watchdogs, led by the Australian Transaction Reports and Analysis Centre (AUSTRAC), are pushing for landmark legislative amendments to the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act. This proposal, supported by the Australian Banking Association and Transparency International, seeks to grant the AUSTRAC CEO unilateral authority to…