The Australian Transaction Reports and Analysis Centre (AUSTRAC) fined Melbourne-based crypto exchange Cointree 75,120 USD for failing to submit suspicious activity reports promptly. Cointree has proactively acknowledged its reporting delays and is working to strengthen its compliance measures.
AUSTRAC’s CEO Brendan Thomas highlighted that timely reporting is vital for addressing financial criminal activities. The agency is intensifying its oversight of the crypto sector, warning over 50 other firms of potential compliance failures.
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