MoonPay Registers with AUSTRAC to Launch Crypto Exchange Services in Australia

• MoonPay registers with AUSTRAC, allowing the firm to provide cryptocurrency exchange services across Australia with local payment methods.
• The registration requires compliance with Australia’s AML/CTF laws, including strict KYC protocols and reporting requirements.
• MoonPay continues to expand globally, holding registrations in the U.K., Ireland, Italy, Canada, and 44 U.S. states.

Crypto payments firm MoonPay has officially secured registration with Australia’s financial intelligence agency, AUSTRAC, to provide digital currency exchange services across Australia. This move positions MoonPay to establish relationships with local payment processors and expand its services in the Australian market.

New Payment Methods for Australian Users 

With this registration, MoonPay will now be able to offer local payment methods such as Osko and PayID, giving Australian users more flexibility and convenience in accessing cryptocurrency. These methods are increasingly popular among local consumers due to their ease of use and rapid transaction speeds.

Australia has seen a steady increase in cryptocurrency adoption, with reports indicating that one in five Australian adults has owned crypto assets at some point. The country also launched its first Bitcoin ETF earlier this year, further establishing Australia as a key player in the global crypto market.

Compliance with Local Laws 

MoonPay’s registration with AUSTRAC requires the company to comply with Australia’s anti-money laundering and counter-terrorism financing laws (AML/CTF). This includes strict reporting, record-keeping, and know-your-customer (KYC) protocols to ensure security and compliance.

MoonPay’s Australian registration complements the company’s existing registrations in countries like the U.K., Ireland, Italy, and Canada, as well as in 44 U.S. states. The company has emphasized that this registration is not an endorsement by the agency but is an important step in ensuring compliance with the regulatory landscape in Australia’s expanding crypto market.

CEO’s Vision for Compliance  

Ivan Soto-Wright, MoonPay’s CEO, highlighted the firm’s commitment to making cryptocurrency exchanges simple and compliant for users worldwide. He stated, “We are excited to bring our services to Australian users while continuing to prioritize innovation, compliance, and consumer safety.”