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Crypto exchange KuCoin said it registered with Australia’s financial intelligence agency, Austrac, as a digital currency exchange (DCE), allowing it to legally offer crypto exchange services in the country.
The registration means the trading platform can now operate under formal oversight in a market where regulators have tightened scrutiny of offshore platforms. While the registration is not a license per se, it is a legal requirement for any firm providing digital currency exchange services in Australia.
The timing of KuCoin’s registration comes as Australia’s financial regulators step up efforts to bring crypto activity under existing financial services laws. The Australian Securities and Investments Commission (ASIC) last month said many digital assets, including stablecoins and tokenized products, already fall within the scope of the Corporations Act, meaning they may require licensing to operate.
To support its local push, KuCoin is working with Echuca Trading, an financial services firm already licensed by ASIC. The partnership is designed to bring KuCoin’s crypto futures products into a regulated framework tailored to Australian users.
The exchange said it also rolled out new fiat on-ramp support, making it easier for Australian users to deposit local currency and trade crypto. KuCoin plans to seek further registrations for additional services as it builds out its regulatory presence in the country, it added.
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