Australia crypto unit

Australia Introduces Dedicated Crypto Unit

06.09.2022 08:56 (Updated 06.09.2022 09:09)
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by Aleksandar Đurić
1 min read

Australian Federal Police now has a specialized unit whose goal is to track and seize crypto linked to illicit activity. The unit is part of the broader Australian Criminal Assets Confiscation Taskforce (CACT).

According to CACT’s representative, the formation of this team was necessary following the increasing involvement of crypto in criminal activities. Its members will be specially trained to handle crypto, instead of this only being a part of their overall skill-set.

In the past two years, CACT has seized more than AU$600 million ($408 million). The know-how of tracing crypto transactions across different blockchains should help CACT to further increase cyber and national security.

Generally speaking, the Australian government seems to be more focused on crypto these days. Last month, it announced a plan to introduce a national crypto regulatory framework.

Author

  • An experienced journalist working in the film and video-game industries for many years. An enthusiast busy with learning new things about the world of crypto every day. Majored in English Language and Literature. Has a shrine in his apartment dedicated to Hidetaka Miyazaki.

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