AUSTRAC's reforms will incorporate 80,000 businesses into its anti-money laundering framework, emphasizing a proactive approach to financial crime risks in the crypto sector.
AUSTRAC has classified cryptocurrency as a significant threat in financial crime, planning to regulate approximately 80,000 businesses, including crypto firms, under its anti-money laundering framework starting in 2026. CEO Brendan Thomas noted a shift towards addressing substantive risks, particularly for virtual asset service providers, with new reporting requirements beginning March 31, 2026.