Bitcoin latest news: Australia crackdown on cryptocurrency funding terrorism

The Australian government said the danger of monetary wrongdoing is continually developing as it presented new measures focusing on criminal utilization of the digital currency and reinforced the Anti-Money Laundering And Counter Terrorism Financing Act.

Under the changes, cash trade suppliers of advanced cash, for example, the bitcoin and ethereum, will be brought under the transmit of the Australian Transactions and Reporting Analysis Center (AUSTRAC).

The investigative and requirement forces of the monetary insight organization will likewise be fortified as a major aspect of the progressions.

Australia's Minister for Justice Michael Keenan stated: "Halting the development of cash to lawbreakers and fear based oppressors is a crucial piece of our national security guards and we expect controlled organizations in Australia to follow our thorough administration.

"The risk of genuine monetary wrongdoing is always advancing, as new advancements develop and lawbreakers look to abominably misuse them.

"These measures guarantee there is no place for hoodlums to cover up."