Australian authority AUSTRAC has revoked the licenses of three exchange operators in cryptocurrencies for suspected links with criminal organisations.

“AUSTRAC can suspend and/or cancel a registration if it is believed that a business or organisation poses an unacceptable risk of money laundering, terrorism financing, or other serious crime,”

the spokesperson said.

“This includes where an individual associated with the business is charged and convicted of a money laundering, terrorism financing or other serious offences.”

As many people know, australia has also recently enacted laws against privacy and encryption with even severe penalties. So this news is part of this overall picture.