MoonPay has officially registered with Australia's financial intelligence agency AUSTRAC to provide crypto exchange services across the country.
Registration with AUSTRAC
In a blog post on September 12, MoonPay said the AUSTRAC registration is expected to help establish local payment processing relationships, enabling Australian users to access alternative payment methods such as Osko and PayID.
No Australian License
With its AUSTRAC registration, MoonPay is now required to comply with Australia’s anti-money laundering and counter-terrorism financing laws, which mandate reporting, know-your-customer protocols, and record-keeping requirements. MoonPay co-founder Ivan Soto-Wright says the firm plans to continue engaging with regulatory bodies globally.
MoonPay's Registration Map
In addition to the AUSTRAC registration, MoonPay holds registrations in the U.K., Ireland, Italy, Canada, and 44 U.S. states, where it holds money transmitter licenses. The firm noted that the registration is not a license or endorsement by the agency, though it emphasized that the move signifies an important step as it navigates the growing regulatory landscape in Australia’s crypto market.
MoonPay's registration with AUSTRAC marks an important step in establishing legal status within the Australian crypto market and expanding payment capabilities for users.
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