Transak has secured AUSTRAC registration, enabling it to legally offer crypto services in Australia, becoming the first fully registered platform in the country.
Obtaining the DCE Certificate
Transak received the Digital Currency Exchange (DCE) certificate from AUSTRAC, allowing it to perform direct cryptocurrency transactions in Australia without breaching financial regulations. This is a significant step for the company as the certificate ensures compliance with Australia’s stringent anti-money laundering and counter-terrorism financing standards.
Expansion in Canada
Recently, Transak registered as a money services business (MSB) with Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC). This confirms Transak’s strategic intent to expand its market presence in North America, ensuring compliance and security in crypto transactions.
Rising Crypto Activity in Australia
Australia has seen a rise in crypto activity among the 25 to 44 age group, confirmed by a Swyftx survey. The country's regulators aim to ensure all crypto firms comply with anti-money laundering standards. AUSTRAC recently issued warnings to 13 crypto businesses for non-compliance.
Transak continues to strengthen its position in the international cryptocurrency transaction space, ensuring regulatory compliance and offering reliable digital asset solutions.
