Australian-owned cryptocurrency brokerage trading service, HiveEx.com, is the latest business to be registered with Australia’s financial intelligence agency, AUSTRAC.
For immediate release, Tuesday, April 24, 2018, Sydney, Australia – Australian-owned cryptocurrency brokerage trading service, HiveEx.com, is the latest business to be registered with Australia’s financial intelligence agency, AUSTRAC.
HiveEx.com is a global brokerage service for large cryptocurrency trades of more than $50,000. It was founded in February 2018, and has already processed close to $3 million in transactions.
HiveEx.com also launched a cryptocurrency bill payments service this month (April 2018), called HiveSpend.com. The service allows people to use their cryptocurrency to pay their Australian bills through BPAY. It is the first bill payments service for cryptocurrency registered with AUSTRAC.
HiveEx.com and HiveSpend.com are owned by the co-founders of finder.com.au, Fred Schebesta and Frank Restuccia.
Mr Schebesta said they are thrilled to be officially registered with AUSTRAC.
“Cryptocurrency is the future of banking, and regulation for the industry is a necessity. It will drive the world’s banking revolution forward.
“Regulation brings best practice standards across the board, and will build consumer confidence, credibility and trust through legitimacy.
“We were already following compliance guidelines including a customer identity verification provider in accordance with AUSTRAC’s anti-money laundering and counter-terrorism financing
(AML/CTF) program. It’s great to be officially registered and part of this incredible journey.”
Australia is the 12th biggest bitcoin economy in the world according to Coinhills.com, with 0.11% of all bitcoin traded in the past 24 hours was the Australian Dollar.
“Australia is one of the largest cryptocurrency markets in the world, which is why it’s so important for our government to recognise and regulate this asset class.”
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