Digital currency exchange providers
A digital currency exchange provider is an individual, business or organisation that exchanges:
- money (Australian or foreign currency) for digital currency
- digital currency for money (Australian or foreign currency)
as part of operating a digital currency exchange business.
Digital currency exchange providers must be registered with AUSTRAC. Find out more about how to register. You will be enrolled with AUSTRAC as part of the registration process.
If you are a digital currency exchange provider, you must be registered with AUSTRAC before you can provide digital currency exchange services. It is against the law to provide digital currency exchange services in Australia without being registered.
Taxation rules also apply. Visit the Australian Taxation Office website for information on cryptocurrency used in business.
Registration obligations
You must:
- apply to register with AUSTRAC. AUSTRAC has the right to refuse, suspend or cancel registration. We can also impose conditions on registration.
- renew your registration every three years.
- keep your details up to date
Read about the consequences of not complying.
This guidance sets out how we interpret the Act, along with associated Rules and regulations. Australian courts are ultimately responsible for interpreting these laws and determining if any provisions of these laws are contravened.
The examples and scenarios in this guidance are meant to help explain our interpretation of these laws. They’re not exhaustive or meant to cover every possible scenario.
This guidance provides general information and isn't a substitute for legal advice. This guidance avoids legal language wherever possible and it might include generalisations about the application of the law. Some provisions of the law referred to have exceptions or important qualifications. In most cases your particular circumstances must be taken into account when determining how the law applies to you.