Global fiat on/off ramp service, Transak, has received its Digital Currency Exchange (DCE) registration from the Australian Transaction Reports and Analysis Centre (AUSTRAC), allowing it to operate as a fully compliant exchange in Australia. This regulatory approval ensures compliance with anti-money laundering and counter-terrorism financing regulations and allows Transak to offer Australians a compliant gateway to purchase cryptocurrencies. The company also recently obtained Money Transmitter Licenses in Illinois and Missouri in the United States. Transak aims to serve the Australian fintech market and support the country's growing digital asset ecosystem. The move for regulatory clarity comes as AUSTRAC cracks down on compliance failures within the digital currency exchange sector. The Australian Competition and Consumer Commission (ACCC) has also raised concerns about relaxed regulations in other countries potentially increasing the risks of scams targeting vulnerable Australian consumers.



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