Alchemy Pay, a Fiat-to-Crypt payment solutions provider, has announced the expansion of its services in Australia.
The company was recorded as a digital currency exchange provider at the Australian transactions (AUSAC) transactions and analysis center.
On January 27, 2025, Alchemy Pay announced His approval of Austrac, the agency responsible for the supervision of anti-aging financing regulations (AML) and anti-terrorism (CTF).
Great news from #Alchemypay!
Now we are officially recorded as a digital currency exchange supplier with Austrac in Australia, allowing us to bring payment services from Fiat to Safe Crypt-Cripto and without continuity to Australian users.
Further information: https://t.co/gzvwlcoe3q$ ACH pic.twitter.com/jfuvbmdouj
-Alchemy Pay | $ ACH: Fiat-Crypto payment gateway (@alchemypay) January 27, 2025
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What does the regulatory milestone for the salary of alchemy mean?
Alchemy’s salary aims to guarantee 20 regulatory licenses globally.
Commenting on the approval of Austrac, Ailona Tsik, CMO of Alchemy Pay said: “We are excited to bring our services directly to Australian users, engaging in the regulatory involvement for legal compliance, the construction of trust of the interested parties and an effective parties risk management in Australia. “
“Our mission is to build a robust and compliant infrastructure that connects the traditional financial system with the decentralized cryptocurrency economy,” added Tsik.
More recently, the company has successfully recorded itself as a money service activity with FinTrac in Canada and has expanded its North American imprint ensuring eight cash transmitter licenses (MTLS) The United States.
It is important to underline that the clear Australian regulatory framework provides companies such as alchemy with the stability necessary to innovate without fear of sudden political changes.
In addition, Alchemy Pay will have to face the competition of important actors in the sector such as Kraken, who is also recorded in the Austrac framework.
Recently, the Australian Federal Court has imposed an Australian fine of $ 5.1 million Aud on Bit Trade, the Kraken operator. The Court took sides with the Australian Securities and Investments Commission (ASIC).
Asic accused the bit trade of not respecting the legal obligations regarding the design and distribution of financial products.
Explore: the Australian Federal Court fines the Australian operator of Kraken $ 5.1 million
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