Australia’s Financial Regulator Grants License to Bitcoin Exchange Coinzoom

Australia’s Financial Regulator Grants License to Bitcoin Exchange Coinzoom
фото показано с : news.bitcoin.com

2018-12-4 22:30

Coinzoom Australia said Dec. 3 that it has been officially registered as a digital currency exchange with financial watchdog Austrac. The registration allows the exchange to operate legally according to Australian law. It will also function as a fiat-to-crypto exchange, with support for a variety of digital assets, including the buying and selling of BTC, BCH and XRP.

Also read: Report: Bitcoin Mining Doesn’t Fuel Climate Change, it Benefits the Global Economy

Complying With KYC/AML Requirements

“Being fully registered … is an important step in our goal to provide globally compliant digital currency trading for both institutional and retail traders,” Todd Crosland, chief executive officer of Coinzoom, said in an online statement.

Austrac, as the Australian Transaction Reports and Analysis Centre is commonly known, is a state-run financial intelligence agency that monitors financial transactions for evidence of money laundering, organized crime, tax evasion, fraud and terrorism. At press time, the regulator had not responded to a request for comment.

When Coinzoom Australia launches in the first quarter of 2019, traders will be expected to “fully” comply with the know-your-customer and anti-money laundering requirements of both the Australian and U.S. financial regulators, said Crosland.

The unit of U.S.-based Coinzoom Inc. claims that the platform, which caters to local and international investors, “will provide a simple and easy one-stop user experience to link their credit card, bank account and cryptocurrency wallets.” It adds that it “also offers customers a pattern recognition system, rewards debit card, and social trading capabilities.”

Todd Crosland

Coinzoom Inc. describes itself as “an institutional grade digital currency-trading platform” that supports the trade of virtual currencies such as bitcoin, bitcoin cash, ripple and ether. The company claims it is registered as a money services business in all 50 U.S. states. It says it is also in the process of acquiring remittances licenses in states where they are required and has already secured them in states such as Florida, Iowa and Maryland. The remittances licenses allow Coinzoom to transfer funds or offer crypto-based payment services.

Cryptocurrency Hub

Australia aims to become a cryptocurrency leader. In September, Travelbybit, a Brisbane-based startup, revealed that it had received state funding to enable it to transform the city into a cryptocurrency hub. The company says it will use the funds to develop technologies that allow visitors to Brisbane to pay for their travel expenses in virtual currencies such as bitcoin or bitcoin cash.

In June, Agnes Water — a coastal town in the Australian state of Queensland — claimed it had become the country’s “first digital currency town,” where transactions and payments are denominated in crypto. And a recent survey by Hiveex and Ivypay indicated that about 2.58 million Australians now own cryptocurrencies of some form, with more than 2,500 bills paid in virtual currencies in the country every month.

“Coinzoom’s vision is to provide global cryptocurrency traders with innovative trading technology, and world-class digital asset security, all while following the U.S. and global regulatory requirements,” said Crosland.

What do you think about KYC/AML requirements as a precondition for cryptocurrency trading? Let us know in the comments section below.

Images courtesy of Shutterstock and Coinzoom.

Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com.

The post Australia’s Financial Regulator Grants License to Bitcoin Exchange Coinzoom appeared first on Bitcoin News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Safe Exchange Coin (SAFEX) на Currencies.ru

$ 0.0054306 (-0.25%)
Объем 24H $1.742k
Изменеия 24h: 1.41 %, 7d: -8.63 %
Cегодня L: $0.0053635 - H: $0.0055227
Капитализация $6.099m Rank 99999
Цена в час новости $ 0.0070445 (-22.91%)

exchange australia financial bitcoin coinzoom regulator digital

exchange australia → Результатов: 75


Фото:

Australia’s Bit Trade Cryptocurrency Exchange Launches Equity Crowdfunding Program

Bit Trade, a leading Australian bitcoin trading venue that claims to offer clients fast, secure and straightforward cryptoassets trading services has announced the launch of its crowdfunding campaign via Equitise, to enable it raise $3 million for its strategic growth and international expansion plans, according to a Business Insider report on November 22, 2018.

2018-11-24 16:46


Tron (TRX)’s New Listing On Indacoin Comes With New Trading Pairs, Enters Australia And Russia As Trading Volumes Increase By 260%

Things are looking up for Tron’s TRX as it gets another listing on a new London-based crypto exchange. The exchange, called Indacoin, also plans to offer 5 fiat trading pairs for the crypto. This comes just days after Tron launched a new smart contract system that quickly achieved over 12 million triggers.

2018-11-9 03:54


$50-миллионный ICO-проект в Австралии признали незаконным

Австралийский криптовалютный стартап Global Tech Exchange (GTE), проводящий ICO-кампанию, был вынужден остановить деятельность из-за несоответствия требованиям Комиссии по ценным бумагам. По информации новостного издания Business Insider Australia, ICO было запущено летом 2018.

2018-10-24 20:15


Фото:

Australia: NSW State Government Launches a Blockchain-Based System for Digital Driver Licences

The Australian New South Wales Government will roll out the second trial for their blockchain-based digital driver license system in Sydney’s Eastern Beaches in November 2018. According to a ZDNet report released on September 10, 2018, over 140,000 residents in the area will be able to exchange their plastic driver’s license for a blockchain-based digital smartphone-rendered copy from the Service NSW mobile...The post %%POSTLINK%% appeared first on %%BLOGLINK%%.

2018-9-11 01:00


Coinbase Launches Direct Withdrawals to Uber, Tesco, Google Play Gift Cards

Leading cryptocurrency exchange Coinbase announced the launch of a new service allowing customers in the EU and Australia to exchange cryptoassets for e-gift cards. Announced on July 25, 2018, the new service allows users to spend their Coinbase funds on e-gift cards via WeGift, skipping the crypto to fiat bridge and facilitating the near-direct exchange […] The post Coinbase Launches Direct Withdrawals to Uber, Tesco, Google Play Gift Cards appeared first on CryptoSlate.

2018-7-26 11:00