MoonPay has registered with the Australian authority to offer cryptocurrency exchange services.Â
The Australian financial intelligence agency, AUSTRAC, has formally registered cryptocurrency payments company MoonPay, opening the door for the company to provide cryptocurrency exchange services nationwide.
MoonPay said in a blog post on September 12 that the change is anticipated to facilitate the establishment of local processing connections for payments, giving Australian users access to PayID and Osko, among other alternative payment methods. Geoffrey Lyons, MoonPay’s senior editorial lead:
[…] one in five Australian adults currently or previously owned crypto assets, and the country launched its first Bitcoin ETF in June.”
No Australian license for now
MoonPay is now obligated to abide by Australia’s anti-money laundering and counter-terrorism funding rules, which include know-your-customer procedures, record-keeping requirements, and reporting requirements, as a result of its AUSTRAC registration.
Ivan Soto-Wright, a co-founder of MoonPay, said the company intends to keep interacting with international regulatory agencies.
MoonPay is registered with AUSTRAC and also has money transmitter licenses in 44 U.S. states, Ireland, Italy, the United Kingdom, and Canada.
The company stressed that while the registration does not imply a license or agency endorsement, it is a significant step in navigating the evolving legal environment in Australia’s cryptocurrency business.
