The Australian Transaction Reports and Analysis Centre (AUSTRAC) has taken regulatory action against 13 money transfer service providers and cryptocurrency exchanges, while issuing compliance warnings to more than 50 institutions. Brendan Thomas, chief executive of AUSTRAC, said the agency had rejected applications from six providers to renew their registrations because of serious offences affecting their integrity by key personnel, while two other providers were subject to conditions for failing to meet the deadline. At present, there are 417 digital currency exchanges registered with AUSTRAC in Australia, and 5,112 remittance registration authorities. Notably, FTX Australia subsidiaries FTX Express and Zipmex Australia, two defunct cryptocurrency exchanges, have been removed from the country's digital currency exchange registration list. AUSTRAC said the action stems from the agency's discovery of systemic unreported and under-reported suspicious transactions in the remittance and digital currency exchange industries. The agency plans to strengthen regulation of the cryptocurrency industry in 2025.