On Monday, September 7, 2026, CryptoSlate reported that Australia’s financial intelligence regulator, AUSTRAC, canceled the registration of crypto provider GetCoins. This action follows customer complaints and an investigation into alleged cryptocurrency investment scams.
GetCoins, operating as BA Digital Ventures Pty Ltd, had its registration canceled on June 4, 2026, a decision that effectively prevents the business from operating.
AUSTRAC’s action against GetCoins was taken in conjunction with the National Anti-Scam Centre, prompted by customer complaints. The regulator sought information on GetCoins’ operations to assess its ability to manage money laundering risks. AUSTRAC stated that GetCoins was allegedly exploited by organized cryptocurrency investment scams, and the cancellation, along with the anti-scam center’s involvement, has helped disrupt scam activities. However, the disclosure does not specify any recovered funds for customers or any criminal findings against GetCoins itself.
This cancellation is part of a broader enforcement trend, with AUSTRAC revealing that it has canceled, suspended, or refused to renew 45 remittance and virtual asset provider registrations over the past year. These actions underscore the consequences of failing to meet regulatory requirements, which can result in businesses losing their permission to operate.
AUSTRAC CEO Brendan Thomas emphasized that businesses with canceled registrations are no longer permitted to operate.
The reasons cited for AUSTRAC’s broader enforcement actions include issues such as insufficient capacity to trade, dormant businesses, insolvency, inadequate registration processes, and failures to report significant changes. The risk of money laundering or terrorism financing was also a key factor.
While GetCoins falls under the cancellation category of the official record, the overall figure of 45 actions includes various types of decisions and sectors, not solely cancellations of crypto firms.
AUSTRAC’s regulatory framework requires businesses providing digital currency exchange or virtual asset services to be registered, and losing this registration means losing the necessary authorization to offer these services. The regulator retains the power to refuse applications, suspend or cancel registrations, or deny renewals if a business poses an unacceptable risk of money laundering, terrorism financing, or other serious criminal activity.
Source: CryptoSlate
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