KuCoin Achieves Regulatory Milestone with AUSTRAC Registration in Australia

New updates have been reported about KuCoin (PC:KUCOI)

KuCoin, a prominent global cryptocurrency platform, has achieved a significant regulatory milestone by securing registration as a Digital Currency Exchange (DCE) under AUSTRAC in Australia. This development places KuCoin under the formal oversight of AUSTRAC, reinforcing its compliance framework within one of the most stringent regulatory environments globally. As part of its commitment to compliance, KuCoin plans to expand its regulated services in Australia by registering for additional designated services with AUSTRAC. Furthermore, the platform has partnered with Echuca Trading, which holds an Australian Financial Services Licence (AFSL), to integrate its crypto futures business into a regulated structure tailored for the Australian market.

In addition to its regulatory advancements, KuCoin has introduced local fiat on-ramp support, enhancing the accessibility and compliance of digital asset transactions for Australian users. BC Wong, Global CEO of KuCoin, emphasized the importance of AUSTRAC registration as a key milestone in the platform’s global compliance strategy, highlighting Australia’s high standards for digital asset oversight. Wong reiterated KuCoin’s commitment to transparency and responsibility, aiming to protect users and foster the growth of the Australian digital asset ecosystem. James Pinch, Australian Managing Director at KuCoin, noted that the AUSTRAC registration and AFSL-backed framework elevate the standard for exchanges serving the Australian community, ensuring safer and more efficient fiat access. These strategic moves underscore KuCoin’s dedication to building trust through robust compliance foundations, enabling Australians to engage with cryptocurrencies confidently.