The AFP’S Crypto unit will come into contact with bad actors who use digital assets to launder money and commit other financial crimes.
The Australian Federal Police, an independent agency in charge of investigating crime and ensuring the country’s national security, is said to have established a new cryptocurrency unit. The goal is to track down and prosecute criminals who use digital assets in their activities, such as money launderers.
Australis’s Latest Crypto Step
According to recent media reports, the Australian Federal Police (AFP) has focused its attention on criminals who use digital assets in their illegal activities and thus circumvent existing laws. According to Stefan Jerga, the national agency manager, the use of crypto in such operations has increased significantly since 2018. Keeping current trends in mind, the AFP established a special cryptocurrency unit that will seek out and punish wrongdoers who use bitcoin or altcoins to facilitate money laundering or other financial crimes.
Crypto Regulation – a priority in Australia
Josh Frydenberg, an Australian politician and former Federal Treasurer, revealed at the end of 2021 that the country’s authorities intend to implement a cryptocurrency reform plan in 2022. The legislation was expected to boost innovation, provide additional protection to consumers, and position the country as a global leader in digital assets.
The Australian Labor Party won the government elections in March of this year, When it took office, the new cabinet announced that it would focus its efforts on three major issues: climate change inflation, and the implementation of comprehensive rules for the domestic crypto sector.