MoonPay Registers with AUSTRAC to Offer Crypto Services in Australia

MoonPay has registered with Australia’s regulator to provide crypto exchange services, enabling local payment methods like Osko and PayID for Australian users.

Crypto payments firm MoonPay has officially registered with Australia’s financial intelligence agency, AUSTRAC, paving the way to offer crypto exchange services across the country. This registration is expected to help establish local payment processing relationships, enabling Australian users to access alternative payment methods such as Osko and PayID.

One in five Australian adults currently or previously owned crypto assets, and the country launched its first Bitcoin ETF in June.

– Geoffrey Lyons, MoonPay’s senior editorial lead

No Australian License for Now

With its AUSTRAC registration, MoonPay is now required to comply with Australia’s anti-money laundering and counter-terrorism financing laws. These laws mandate reporting, know-your-customer protocols, and record-keeping requirements. MoonPay co-founder Ivan Soto-Wright mentioned that the firm plans to continue engaging with regulatory bodies globally.

In addition to the AUSTRAC registration, MoonPay holds registrations in the U.K., Ireland, Italy, Canada, and 44 U.S. states, where it holds money transmitter licenses. The firm noted that the registration is not a license or endorsement by the agency, though it emphasizes that this move signifies an important step as it navigates the growing regulatory landscape in Australia’s crypto market.

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