Legal / regulatory framework
Mine Digital exchange is required by Australian law to ensure that the services we provided do not facilitate money laundering or terrorism financing. These laws include the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (AML/CTF Act) and associated rules and regulations.
Since 12 September 2018, ACCE Australia Pty Ltd (ABN 52 627 188 138) (trading as Mine Digital) has been registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency exchange provider. AUSTRAC is Australia’s financial intelligence agency with regulatory responsibility for anti-money laundering and counter-terrorism financing.
What is Money Laundering?
Money laundering is dealings with money or other property which is, and is believed to be, proceeds of crime, or is intended to be an instrument of crime. This may include receiving, possessing, concealing or disposing or the money or other property, importing or exporting money or other property into or from Australia, or engaging in a banking transaction relating to the money or other property.
What is Terrorism Financing?
A person finances terrorism when they intentionally collect or provide funds and are reckless about whether the funds will be used to facilitate or engage in a terrorist act. It does not matter if the person provides or collects the funds on behalf of someone else, if the terrorist act does not happen or if the funds will not be used for a specific terrorist act or for more than one terrorist act.
What anti-money laundering (AML) and counter-terrorism financing (CTF) steps do we take?
We have adopted an AML/CTF Program which establishes our operational framework for identifying, mitigating and managing the risk of the Mine Digital exchange being misused to facilitate money laundering or terrorism financing, and to comply with our obligations under the ALM/CTF Act and reporting requirements to AUSTRAC.
Our AML/CTF Program includes: