- KuCoin gains AUSTRAC approval as Australia tightens oversight on offshore exchanges.
- AFSL-backed partnership aligns KuCoin’s futures products with local compliance rules.
- New fiat on-ramps expand regulated access for Australian users amid stricter ASIC guidance.
KuCoin has secured approval to operate a Digital Currency Exchange (DCE) in Australia, placing its local entity under AUSTRAC’s regulatory supervision at a time when authorities are increasing scrutiny on offshore crypto businesses.
The registration brings KuCoin within AUSTRAC’s monitoring framework for digital currency exchange services. According to the company’s announcement, this step is part of a broader plan to secure additional approvals for designated financial services in the country. KuCoin also confirmed that it will work through a regulated structure supported by Echuca Trading, a financial services provider holding an Australian Financial Services Licence (AFSL) issued by the Australian Securities and Investments Commission (ASIC).
This partnership aims to align KuCoin’s crypto futures business with the compliance requirements applicable to Australian financial products. The exchange stated that the arrangement is intended to meet expectations set by local regulators.
Local Fiat Access Introduced for Australian Users
Alongside its compliance developments, KuCoin implemented new fiat on-ramp support in Australia. The update allows users to deposit local currency through approved channels, providing a direct pathway to access digital assets. The rollout forms part of the exchange’s ongoing plan to expand regulated services in the market.
Related: Australia Strengthens Crypto Oversight with New Licensing Rules
Executives Note Shift Toward Structured Oversight
KuCoin executives stated that the regulatory move signals the company’s efforts to operate within established guidelines. Global CEO BC Wong stated that AUSTRAC registration strengthens the organization’s compliance structure and aligns with Australian oversight standards. He added that the company intends to continue developing systems designed to meet regulatory expectations.
James Pinch, KuCoin’s Australian Managing Director, reported that the combination of AUSTRAC registration and AFSL-supported frameworks is intended to establish operational transparency for local users. He noted that the measures support safer access to fiat services and future product development under regulatory requirements.
The decision comes as ASIC reiterates that many digital assets, including stablecoins and tokenized instruments, may already fall under the Corporations Act. The regulator recently indicated that some crypto-related offerings could require licensing to operate legally in Australia.
Related: Australia Seeks to Restrict or Ban Crypto ATMs After 85% Scam-Linked Use
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Source: https://coinedition.com/kucoin-gains-austrac-registration-as-australia-tightens-oversight/
