Australia to have a brand new officially registered exchange in Q1 2019

04 Dec, 2018 | Updated: 04 Dec, 2018
by Fifi Arisandi
Australia to have a brand new officially registered exchange in Q1 2019

Australia financial authorities, the Australian Transaction Reports and Analysis Centre (Austract) just issued a license to a brand new cryptocurrency exchange in the country. 

A new cryptocurrency exchange just received a license from the Australian financial regulator, the Austract on December 3rd.

The exchange, namely Coinzoom will support various cryptocurrencies, including Bitcoin, Bitcoin Cash and XRP, while also offering fiat-to-crypto service on the platform.

With the license, Coinzoom will be able to offer their services to both retail and institutional in the countries, which the CEO, Todd Crossland considers as an important step that will help the exchange in providing the best service to their customers.

The official announcement also mentioned that prior to using their credit cards or bank accounts to trade on the brand new exchange’s platform, investors will be required to go through the requested KYC (know your customer) and AML (anti-money laundering) procedures. 

In addition, investors can expect for rewards that will increase as they trade on the platform more often, as reported by Bitcoin Exchange Guide.

Claimed itself as “an institutional grade digital currency platform”, Coinzoom is expected to launch in Australia in Q1 2019, while it has already registered in all states in the US and is in the process of offering remittance services in Florida, Maryland and Iowa at the moment.

Despite the rising of crypto-related crime in Australia, the country down under seems to show a friendly approach towards cryptocurrency, while also relentlessly advising its citizens to be extremely cautious towards any too-good-to-be-true crypto investment offers.

Read more:

Bitcoin ATMs are now the most common scam in Australia

The Australian Postal Corporation is accelerating the Bitcoin purchasing process

Woman stole $320K in XRP, the largest individual crypto theft in Australia so far

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