RATE Group | Licenses of Four Cryptocurrency Exchanges Revoked in Australia
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Licenses of Four Cryptocurrency Exchanges Revoked in Australia

23 Dec Licenses of Four Cryptocurrency Exchanges Revoked in Australia

Posted at 03:18h in Cryptocurrency News by

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Australia’s anti-money laundering agency has revoked the licences of four cryptocurrency exchanges linked to crime in the country, IT News reports.

AUSTRAC revoked licenses at AUSCOIN ATM and MK Buy & Sell in September.

Both projects were run by “Lamborghini-driving Bitcoin trader Sam Karagiozis” and associates.

Karagiozis, a 27-year-old resident of Melbourne, was arrested last March for alleged trafficking of volumes of cocaine, ketamine, and ecstasy.

Two months before his arrest, in January 2019, Karagiozis told The Daily Mail that  Auscoin had 31 ATMs deployed across Australia, “and our turnover is $500,000 a week, which is just insane considering how much the price of Bitcoin has dropped.”

“‘It just shows there really is a market for it and cryptocurrency is seen as a way of the future for many,” he added.

Licenses for Howzat Domains and Cryptocurrency Transaction Machines have also been revoked.

All the revocations were made in September, and these are reportedly…

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