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Australia removed 45 remittance and virtual asset businesses from its anti-money laundering registers over the past year. AUSTRAC said the actions included cancellations, suspensions and refusals to renew registrations. Providers with canceled registrations can no longer offer the covered services in Australia. The regulator also referred some people behind affected businesses to law enforcement and regulatory partners in Australia and overseas.
AUSTRAC did not publish a breakdown showing how many remittance businesses or virtual asset service providers faced each action. Instead, it listed several reasons behind the decisions. Those reasons included dormancy, insolvency, registration failures, missed notifications and money laundering or terrorism financing risks.
The regulator can refuse applications, impose registration conditions, suspend providers or cancel registrations when it identifies unacceptable financial crime risks. It also acts when businesses cannot show enough capacity to start or continue trading.
AUSTRAC has made the operational consequence clear. Providers that lose registration cannot continue offering the relevant regulated service.
AUSTRAC singled out BA Digital Ventures Pty Ltd, which traded as GetCoins, after complaints reached the National Anti-Scam Centre. The regulator then requested information about GetCoins' operations and its ability to manage money laundering risks.
AUSTRAC said organized cryptocurrency investment scams allegedly exploited GetCoins. The regulator did not disclose a complaint count or customer loss figure. It also did not accuse GetCoins of participating in the alleged scams.
AUSTRAC's virtual asset registration decisions show that it canceled BA Digital Ventures' registration on June 4. The same list records 14 other VASP cancellations between November 2025 and March 2026.
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Virtual asset providers and remittance businesses must enrol with AUSTRAC and obtain registration before offering covered services. Australia has also made its VASP register public, allowing users to check a provider's registration status.
AUSTRAC has said enforcement will continue. CEO Brendan Thomas said businesses in high-risk financial sectors must understand their exposure, maintain effective controls and meet reporting obligations. Otherwise, they may lose their ability to operate.
