Among other proposals, the bill will «strengthen Austrac's investigation and enforcement powers» as well as «close a regulatory gap by bringing
digital currency exchange providers under the remit of Austrac,» the announcement reads, adding that:
«In moving towards reopening our services, we are putting all of our efforts towards discovering the cause of the illicit transfer and overhauling and strengthening our security measures while simultaneously continuing in our efforts to register with the Financial Services Agency as a
Virtual Currency Exchange Provider.»
The Australian government then gave the go ahead for the Australian Transaction Reports and Analysis Centre (Austrade) to monitor cryprocurrency exchanges, with legislation also requiring digital
currency exchange providers to enrol with Austrac and register on its Digital Currency Exchange Register.