AUSTRAC Removes 45 Virtual Asset Providers

Australia's financial intelligence agency has removed 45 remittance and virtual asset service providers from its registers over the past year, citing risks ranging from scams and insolvency to money laundering and terrorism financing. The Australian Transaction Reports and Analysis Centre (AUSTRAC) announced the figures on September 7, 2026, concluding a period of enforcement actions that have stripped businesses of their legal right to operate. AUSTRAC CEO Brendan Thomas confirmed that entities with canceled registrations can no longer legally provide their services. The reasons for the removals varied, including businesses that were dormant, insolvent, or failed to meet registration requirements. Some actions were taken due to elevated risks of money laundering and terrorism financing. AUSTRAC also indicated that individuals connected to some of these businesses could face personal legal consequences. Among the most prominent actions was the cancellation of BA Digital Ventures Pty Ltd, which operated as GetCoins. This decision, made on June 4, 2026, followed customer complaints linked to organized cryptocurrency investment scams.