AUSTRAC Registration Eligibility Checker
Check if Your Crypto Exchange Needs AUSTRAC Registration
This tool helps determine whether your exchange business falls under AUSTRAC's jurisdiction based on your current operations and planned future activities.
Your results will appear here after clicking "Check Registration Status".
Running a crypto exchange in Australia without AUSTRAC registration is a fast track to legal trouble. The good news? The paperwork is manageable if you know exactly what the regulator expects.
Quick Takeaways
- All platforms that swap fiat for crypto (or crypto for fiat) must be registered with AUSTRAC now.
- Prepare a complete AML/CTF Program and a Money‑Laundering/Terrorism‑Financing Risk Assessment before you apply.
- Application is submitted online; AUSTRAC can refuse, suspend, or add conditions.
- From 31March2026 the scope widens to cover crypto‑to‑crypto swaps, custodial services, and ICO‑related activities.
- Non‑compliance can mean criminal charges, hefty fines, and irreversible reputation damage.
What is AUSTRAC registration?
AUSTRAC registration is the mandatory anti‑money‑laundering (AML) and counter‑terrorism financing (CTF) compliance framework for businesses that provide digital‑currency exchange services in Australia. It is governed by the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 (AML/CTF Act). Failure to register is a criminal offence, punishable by up to 10 years imprisonment or a $1.05million fine per breach.
Who needs to register?
The rule applies to any Digital Currency Exchange (DCE) that facilitates fiat‑to‑crypto or crypto‑to‑fiat transactions. This includes:
- Online platforms that let users buy Bitcoin with AUD or sell Ethereum for AUD.
- Physical locations such as crypto‑ATM operators.
- Remittance services that move funds from a bank account into a digital‑currency wallet.
As of October2025, the requirement does not extend to pure crypto‑to‑crypto swaps, custody services, or token‑sale platforms-yet. Those will fall under the expanded scope on 31March2026.
Current (2025) Registration Requirements
Before you hit the “Submit” button, AUSTRAC expects three core deliverables:
- AML/CTF Program - a documented set of policies, procedures, and controls to detect and deter money‑laundering and terrorism financing.
- Money‑Laundering/Terrorism‑Financing Risk Assessment (ML/TF Risk Assessment) - a systematic analysis of the specific risks your exchange faces, including customer types, transaction values, and geographic exposure.
- Proof of Know Your Customer (KYC) processes - identity verification, source‑of‑funds checks, and ongoing monitoring.
Other supporting documents include: business registration certificates, board member details, appointed compliance officer credentials, and evidence of a designated AML/CTF officer.
Preparing the Documentation
Getting the paperwork right saves weeks of back‑and‑forth with AUSTRAC. Follow this practical checklist:
- Draft a full AML/CTF Program that references the latest Financial Action Task Force (FATF) recommendations.
- Complete the ML/TF Risk Assessment using a risk‑matrix (likelihood×impact) for each identified threat.
- Typical risk factors: high‑value transfers, politically exposed persons, countries on the UN sanctions list.
- Set up a KYC workflow that captures:
- Full legal name, DOB, and residential address.
- Government‑issued photo ID (passport or driver’s licence).
- Proof of address (utility bill, bank statement).
- Source‑of‑funds declaration for transactions >AU$10,000.
- Appoint a dedicated AML/CTF Officer with at least two years of compliance experience.
- Maintain a secure, audit‑ready electronic record‑keeping system for at least seven years.
Step‑by‑Step Application Process
- Visit AUSTRAC’s online portal and run the AUSTRAC registration assessment tool to confirm you fall within the DCE definition.
- Create an AUSTRAC user account; you’ll need your Australian Business Number (ABN) and ACN.
- Upload the AML/CTF Program, ML/TF Risk Assessment, KYC policy, and supporting corporate documents.
- Pay the non‑refundable application fee (currently AU$2,500 for DCEs).
- Submit the application. AUSTRAC typically acknowledges receipt within 48hours and may request clarifications within 14days.
- Upon approval, you’ll receive a registration certificate and your AUSTRAC Registration Number (ARN). Record this ARN on all customer‑facing material.
If AUSTRAC refuses or imposes conditions, you can appeal within 28days or address the concerns and re‑apply.
What Changes on 31March2026?
The regulator is widening its net to cover activities that were previously “grey”. The new scope adds:
- Crypto‑to‑crypto swaps (e.g., swapping BTC for ETH).
- Digital‑asset custody and management services.
- Facilitating ICOs, token sales, and other digital‑currency issuances.
- Transfer‑on‑behalf services (e.g., custodial wallets moving funds for clients).
These additions mean almost every crypto‑related business will need a fresh AUSTRAC registration or a supplemental amendment to an existing one.
Compliance Obligations After Registration
Registration is just the start. Ongoing duties include:
- Continuous monitoring of transactions for suspicious patterns; file Suspicious Matter Reports (SMR) to AUSTRAC within 24hours of detection.
- Submit Threshold Transaction Reports (TTR) for any single transaction or series of related transactions exceeding AU$10,000.
- Annual compliance reporting - a self‑assessment confirming all AML/CTF controls remain effective.
- Maintain up‑to‑date KYC records and refresh identity verification every three years or upon material change.
- Conduct internal audits at least once a year, preferably by an independent third party.
AUSTRAC vs ASIC: When Do You Need an AFSL?
AUSTRAC registration covers AML/CTF, but Australian Securities and Investments Commission (ASIC) may also require an Australian Financial Services License (AFSL) if your platform offers regulated financial products such as tokenised securities, derivatives, or managed investment schemes.
Key differences:
- AUSTRAC focuses on money‑laundering controls; AFSL adds capital‑adequacy, consumer‑protection disclosures, and prudential reporting.
- You can be AUSTRAC‑registered without an AFSL, but you cannot offer a financial product without the AFSL.
- Non‑compliance with either regulator can trigger separate enforcement actions.
Practical Tips & Common Pitfalls
- Start early. Draft your AML/CTF Program at least three months before you intend to launch.
- Engage a compliance consultancy (e.g., Zitadelle AG or Xenia Compliance) to vet your documentation.
- Avoid “one‑size‑fits‑all” KYC - tailor verification levels to transaction risk.
- Keep an eye on the March2026 deadline; many operators apply for amendment early to avoid a compliance gap.
- Document every request from AUSTRAC. A clear audit trail can be decisive if enforcement escalates.
Comparison: Current vs Post‑March2026 Requirements
| Aspect | Now (2025) | From 31Mar2026 |
|---|---|---|
| Scope of activities | Fiat‑to‑crypto & crypto‑to‑fiat | Includes crypto‑to‑crypto swaps, custody, ICO facilitation, transfer‑on‑behalf services |
| Core documentation | AML/CTF Program, ML/TF Risk Assessment, KYC policy | Same plus custodial risk assessment and token‑sale compliance annexes |
| Application fee | AU$2,500 | AU$3,500 for expanded scope |
| Ongoing reporting | SMRs, TTRs, annual compliance report | All existing reports + quarterly custodial audit statements |
| Penalty ceiling | AU$1.05million per breach | AU$5million per breach or imprisonment up to 15years |
Next Steps for New Entrants
- Map your business model against the current AUSTRAC definition.
- Kick off AML/CTF program drafting - involve legal counsel early.
- Run the AUSTRAC assessment tool; if you plan crypto‑to‑crypto services, prepare for the 2026 amendment.
- Choose a compliance partner (Zitadelle AG, Xenia Compliance, etc.) for document review.
- Submit the registration, then set up automated SMR/TTR filing.
- Consider a SaaS compliance platform to ease ongoing reporting.
- Monitor regulatory updates - AUSTRAC publishes draft guidance quarterly.
Frequently Asked Questions
Do I need AUSTRAC registration if I only operate a crypto‑to‑crypto exchange?
Not today. The current AML/CTF Act only covers fiat‑crypto conversions. However, the rule changes on 31March2026, so you’ll need to register before then if you want to stay compliant.
Can I use the same AML/CTF program for both AUSTRAC and ASIC compliance?
Partially. AUSTRAC focuses on money‑laundering controls, while ASIC’s AFSL requirements add capital adequacy, client‑money handling, and disclosure rules. You’ll need to supplement your AML/CTF program with ASIC‑specific policies if you seek an AFSL.
How long does the AUSTRAC registration process usually take?
If your documentation is complete, AUSTRAC typically acknowledges receipt within two days and makes a decision within 14‑21days. Incomplete submissions can stretch the timeline to several months.
What are the biggest penalties for non‑compliance?
Currently, up to AU$1.05million per breach and possible imprisonment. After March2026, penalties rise to AU$5million per breach and up to 15years jail, reflecting the broader scope.
Do I need a separate compliance officer for AUSTRAC and ASIC?
One qualified officer can handle both, provided they have documented expertise in AML/CTF and ASIC financial‑services regulations. Many firms choose a dual‑role to keep costs down.
Comments
Karl Livingston
Wow, this guide really pulls back the curtain on what AUSTRAC expects from crypto exchanges. The step‑by‑step checklist feels like a map through a maze you’d otherwise get lost in. I especially love the bit about starting early on the AML/CTF program – it saves you from a midnight scramble. The tables and bullet points are crystal clear, no fluff. If you’re thinking of launching, this is the Bible you need.
Kyle Hidding
Honestly, the regulatory granularity here is a textbook case of compliance overengineering – you’re basically building a sandbox for every fiat‑crypto transaction. The risk‑matrix jargon alone could merit a separate whitepaper.
Andrea Tan
Thanks for breaking this down in plain English. It’s reassuring to see that the paperwork is manageable if you follow the checklist. Good luck to everyone diving into the Aussie market!
Gaurav Gautam
One thing that really stands out is the emphasis on a dedicated AML/CTF officer – that’s a smart move, especially for startups that might think they can skip the role. Also, the three‑year refresh on KYC records aligns well with global best practices. The advice to engage a compliance consultancy early can’t be overstated; those firms know the nuances. Keep an eye on the March 2026 deadline; many will scramble if they wait too long. Finally, the suggestion to automate SMR/TTR filings will save countless hours down the road. All in all, a solid roadmap for anyone serious about compliance.
Robert Eliason
i cant beleive how compicated this is, itz over the top.
Cody Harrington
Even if it feels heavy, the process protects both you and your users. Stick to the checklist.
Chris Hayes
This article nails the crucial points without drowning you in legalese. The fee breakdown is especially helpful for budgeting. Remember, non‑compliance isn’t just a fine – it can shut you down.
victor white
One might wonder if the regulator’s motives aren’t just a grandiose power grab. Still, the detail here is impressively thorough.
mark gray
The straightforward language makes this very accessible. I appreciate the reminder about keeping records for seven years – it’s easy to forget. Good luck to all new exchanges.
Fiona Chow
So basically you either jump through hoops now or get crushed later. Nice timing on the deadline warning.
Rebecca Stowe
Stay positive and tackle the checklist step by step – you’ve got this! The guide makes the journey feel doable.
Aditya Raj Gontia
Looks like a lot of paperwork.
Kailey Shelton
Too much hassle.
Angela Yeager
First off, kudos for compiling such an exhaustive resource; it’s a real lifesaver for newcomers. The breakdown of the AML/CTF program components is spot‑on – many people underestimate how critical a solid risk assessment is. I’d add that the risk matrix should be revisited quarterly, not just annually, especially if your user base expands rapidly. When it comes to KYC, consider modular verification layers: basic ID for low‑value users and enhanced due‑diligence for high‑value or politically exposed persons. Also, the recommendation to keep records for seven years aligns with both AUSTRAC and international standards, which helps if you ever need to cross‑border cooperate on investigations. Paying the AU$2,500 fee upfront can feel steep, but think of it as an investment in legal safety and credibility with customers. If you’re looking for a compliance tech stack, several SaaS options now integrate directly with AUSTRAC’s reporting APIs, cutting down manual effort. Finally, the post‑2026 scope expansion is a wake‑up call: start building flexible policies now so the transition is smoother. Overall, this guide is a gold standard – follow it closely and you’ll navigate the regulatory landscape with confidence.
vipin kumar
Reading this, I can’t help but wonder if there’s an unseen agenda pushing for tighter control over digital assets. The timing of the 2026 expansion feels orchestrated to capture more market data. Still, the practical advice here is solid for anyone wanting to stay on the right side of the law. Just keep an eye on any future policy shifts.
Lara Cocchetti
The piece does a decent job at outlining the baseline requirements, but it glosses over the potential for regulatory overreach. It’s crucial to stay vigilant and question any sudden policy changes that could impact operational freedom. Transparency from AUSTRAC will be key.
Mark Briggs
Nice summary but too much fluff. Keep it concise.
mannu kumar rajpoot
While the guide is thorough, don’t forget that behind every regulation there’s a narrative about control. It’s wise to build compliance frameworks that can adapt if the narrative shifts. Stay skeptical.
Tilly Fluf
I appreciate the formal structure of this guide; it provides clear direction for compliant operations. Best wishes to all enterprises embarking on this regulatory journey.