Operators of exchanges for digital currencies like bitcoin face jail and hefty fines if they are not registered by AUSTRAC, under draft laws aimed at curbing money laundering.
Operators face up to seven years and $420,000 fines for repeat offences under changes designed to stop the technology being exploited by criminals to launder money and finance terrorism.
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Ben Potter writes on energy, climate change and innovation, and has been Washington correspondent, opinion editor and companies editor. Connect with Ben on Twitter. Email Ben at bpotter@afr.com
