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Australia cancels GetCoins crypto registration after scam complaints
AUSTRAC said the decision removed GetCoins, operated by BA Digital Ventures Pty Ltd, from its registers and linked the action to alleged organized investment scams.
Australia’s financial intelligence regulator AUSTRAC said Sept. 7 that it canceled, suspended, or refused to renew 45 remittance and virtual asset provider registrations over the past year, describing how failures under the registration regime can lead businesses to lose permission to operate.
AUSTRAC said it took action connected to GetCoins, a virtual asset service provider it identified as BA Digital Ventures Pty Ltd trading as GetCoins. The regulator tied the earlier cancellation decision dated June 4, 2026 to disruption of alleged cryptocurrency investment scams after it worked with the National Anti-Scam Centre on customer complaints.
The regulator said it requested information about GetCoins’ operations to assess its ability to manage money laundering risks, and it characterized the provider as allegedly exploited by organized cryptocurrency investment scams. AUSTRAC said it did not establish that GetCoins itself organized the scams, and it did not provide an amount recovered for customers or any criminal finding against the provider.
AUSTRAC said businesses providing digital currency exchange or virtual asset services must be registered, and losing registration removes the ability to provide those services. The regulator added that it can refuse, suspend, or cancel registrations, or refuse renewal, if it considers a provider an unacceptable risk tied to money laundering, terrorism financing, or other serious crimes.