Popular cryptocurrency trading platform, KuCoin has secured a strategic regulatory approval from the Australian Transaction Reports and Analysis Center (AUSTRAC). The firm confirmed the development on Tuesday through a post on its official blog post.Â
Confirming the license, KuCoin stated that the approval will provide the exchange with the legal backing to operate in the country. Meanwhile, the platform added that it secured the permission through its subsidiary, Digital Currency Exchange.
With the registration, KuCoin will now operate in Australia under the oversight of AUSTRAC. Additionally, the platform noted that it will further enhance its legitimacy in a highly regulated crypto market and solidify its position as an industry leader.
In the statement, the firm established that it aims to register for more designated services with the regulator as part of its broader compliance strategy. KuCoin emphasized that the move will expand its regulated footprint in Australia.
Leveraging the landmark development, KuCoin now offers local fiat on-ramp support, enabling users in Australia to explore the digital asset market.
Similarly, in the statement, KuCoin confirmed a collaboration with Echuca Trading, a financial services provider that holds an Australian Financial Services Licence (AFSL) issued by ASIC. Thanks to this partnership, the firm aims to bring its crypto futures offering under a regulated structure tailored for the Australian market.
Key moves that aided KuCoin in securing the approval
It is worth mentioning that KuCoin secured the regulatory greenlight after opening a physical office in Sydney. Binbits reported that the trading platform established the office in a bid to secure an operational permit in Australia.
As per the report, the cryptocurrency exchange also appointed James Pinch, a financial expert as the managing director of its Australia branch. Furthermore, the executive has so far reacted to the development stating that the exchange has raised the bar very high for how exchanges will serve the Australian community.
Additionally, he described how the steps will enable KuCoin to offer safer, smoother fiat access and deliver products that align with the expectations of local users and regulators. James Pinch stressed that the firm is focused on building trust through strong compliance foundations and ensuring Australians can engage with crypto confidently.
Likewise, the Global CEO of KuCoin BC Wong, said securing AUSTRAC registration is a key milestone in strengthening its global compliance architecture. Wong illustrated how Australia maintains some of the highest standards for digital asset oversight.
The CEO further added that the AUSTRAC registration reflects the firm’s long-term commitment to operating transparently and responsibly. Lastly, Wong added that KuCoin will continue to invest in robust compliance systems to protect users and support the healthy growth of the Australian digital asset ecosystem.