Australian Crypto Exchange Cointree Fined Over Delayed Suspicious Activity Reports

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-16 05:44:02

Australia’s financial intelligence agency AUSTRAC has imposed a A$75,120 penalty on Melbourne-based cryptocurrency exchange Cointree for failing to meet anti-money laundering reporting deadlines. The exchange voluntarily disclosed its compliance shortcomings before regulatory intervention.

AUSTRAC CEO Brendan Thomas emphasized the critical role of timely suspicious activity reports in combating financial crime. "Delayed reporting creates gaps in our financial intelligence network," Thomas warned, signaling tougher enforcement for non-compliant firms.

Cointree is implementing operational improvements to strengthen its compliance systems. The case highlights growing regulatory scrutiny of cryptocurrency platforms in Australia as digital asset adoption increases.

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