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Australia's financial-crime watchdog welcomes new crypto powers

( October 16, 2025, 04:46 GMT | Official Statement) -- MLex Summary: Australia’s financial-crime watchdog has welcomed proposed new powers that would enable it to prohibit certain high-risk products, services or delivery challenges. In a statement, Australian Transaction Reports and Analysis Centre CEO Brendan Thomas said that the government’s proposal will allow his agency to do more to reduce money-laundering risks associated with high-risk products, including crypto transactions and the use of crypto ATMs. The comments follow the announcement by Home Affairs Minister Tony Burke of a plan to update Australian Anti-Money Laundering and Counter-Terrorism Financing Act, which would award Austrac these new powers.The statement is below, followed by the minister's speech: ...

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