Anti-Money Laundering (AML) Policy
bitcoin.com.au is bound by Australian law to take steps to ensure that it is not involved in the facilitation of money laundering or terrorist financing.
Various AML measures are in place designed to articulate our commitment to detecting, preventing and reporting attempts to use our financial services platform to launder money, to finance illegal activities such as terrorism and drug trafficking, or to commit fraud.
The following is a list of some of these measures:
- All clients must undergo a verification check to confirm identity before being allowed to trade
- Fiat currency withdrawals can only be made to a bank account held in the same name as the bitcoin.com.au account
- Fiat currency deposits can only be accepted from a bank account held in the same name as the bitcoin.com.au account
- bitcoin.com.au is obliged to report any suspicious activity to the relevant authorities
Travel Rule compliance
The crypto Travel Rule is a regulation that requires cryptocurrency exchanges to collect and share basic information about the sender and recipient when crypto is transferred between exchanges or custodial platforms. bitcoin.com.au complies with these requirements as part of our broader commitment to preventing money laundering and the financing of illegal activities.
In practice, this means:
- You will need to verify any wallet address before withdrawing cryptocurrency from your bitcoin.com.au account
- Verified addresses are stored in your address book and only need to be confirmed once
- When sending to another exchange or custodial platform (known as a VASP), you will be asked to identify the platform so we can meet our Travel Rule obligations
- Incoming deposits may be held briefly if they arrive from an unverified address while we complete compliance checks
For a step-by-step guide to adding and verifying wallet addresses, see: How to deposit and withdraw crypto using an external wallet .