Digital currency exchange providers – Is it time for you to renew your registration?
Digital currency exchange (DCE) providers operating in Australia have been required to register with AUSTRAC since April 2018. Next month marks three years since the first digital currency exchanges started to register.
Renewing registration every three years is one of the key obligations for businesses on the Digital Currency Exchange Register (DCER) – under the AML/CTF Act they automatically expire after this period. Renewing your registration helps to keep your business details with AUSTRAC correct, as well as ensures that registrations which are no longer needed are ended.
How to renew your DCE registration
You can renew your registration through AUSTRAC Online. It’s a straightforward process that involves making a declaration that all of your business details are up to date and that AUSTRAC has been notified of any material changes to your business. This is an important and ongoing requirement – you should notify AUSTRAC of any changes to your business within 14 days of the change.
We’ll start sending you reminders 90 days before the expiry of your registration so you have plenty of time to renew. You can also check the date you registered in your AUSTRAC Online account. Simply log in, and click the Digital Currency Exchange designated service to view your registration details.