According to a press release on 8 March, Australia government's anti-money laundering employee regulator AUSTRAC, a drug trafficking incident related to the case two crypto money stock exchange license.
AUSTRAC is basically known as a government agency that works to prevent money laundering, tax evasion, terrorism and drug trafficking, and the institution recently announced that they have confiscated the license of two crypto money exchanges due to links to an organized crime scheme.
The 27-year-old suspect was arrested for multiple drug trafficking incidents, according to a joint press release by law enforcement and AUSTRAC. In the later phase of the investigation, the suspect was identified as a edil key element b of multiple crypto-money exchanges and AUSTRAC began to suspect the relevant crypto money exchanges.
According to Reuters, this move was the first time that AUSTRAC canceled its first license for a crypto money exchange. AUSTRAC had first been authorized to inspect the crypto money exchanges and cancel their licenses last year.
As the popularity of crypto currencies increases, there is also a growing number of worldwide frauds. A report previously published by CipherTrace revealed that $ 201 billion of crypto money was illegally obtained in 2018. The recent increase in the crypto money exchanges may also lead to the use of money laundering, such as the case in Australia.
Ali Emre KONAKÇI has published the article titled Ali Canceling License of Two Crypto Money Exchange yayın by Australia's Financial Regulator and published on koinbulteni.com.