Australia has removed 45 crypto and payment companies from its registries

AUSTRAC, the Australian financial regulator, has revoked, suspended, or refused to renew the registration of 45 cryptocurrency and payment companies over the past year. The reasons included inactivity, insolvency, registration errors, and risks of money laundering and terrorist financing.

Among the affected companies is the cryptocurrency service GetCoins, whose registration was revoked following customer complaints. According to AUSTRAC, the platform was allegedly used by organized groups for investment fraud.