Australia's financial intelligence agency plans to bring approximately 80,000 businesses, including those in the crypto industry, under anti-money laundering regulations.

Australia's financial intelligence agency AUSTRAC issued a statement this Wednesday, listing cryptocurrencies as one of the key threats in the current fight against financial crime. It plans to include approximately 80,000 businesses, including the crypto industry, in the anti-money laundering regulatory system starting in 2026, marking the largest regulatory expansion in Australia's anti-money laundering legislation in decades. AUSTRAC CEO Brendan Thomas stated that future regulation will shift from "compliance checks" to the prevention and control of "substantial risks and harms," with a particular focus on the role of virtual asset service providers in the instant transfer of funds globally. [Decrypt]