How to Check a Crypto Exchange in Australia

Disclosure: DeFi.com.au has no affiliate links, referral codes or paid placements. As at 30 October 2026, Dominet BV receives no payments from any exchange, wallet maker, stablecoin issuer or tax software company, and earns nothing if you open an account anywhere. General information: DeFi.com.au is a general information site operated by Dominet BV. This page is general information only and is not financial, tax or legal advice. It does not consider your objectives, financial situation or needs. Dominet BV does not hold an Australian financial services licence (AFSL), is not a crypto exchange or broker, and does not recommend any crypto asset, platform or product. Crypto assets are high risk and you could lose all the money you put in. For independent information see Moneysmart, and for tax see the ATO. Facts were checked on 30 October 2026. Read our general information notice. Checking an exchange: AUSTRAC registration is an anti-money laundering registration, not a licence or a safety rating. Search the AUSTRAC register of virtual asset service providers yourself before you use any exchange.

You can check a crypto exchange in Australia yourself: find the company behind it, look it up on AUSTRAC's register and ASIC's registers, search the official warning lists, and read who holds your crypto and what it costs. This page names no exchange and ranks nothing. It gives you the method.

What a crypto exchange does in Australia

A crypto exchange lets you exchange Australian dollars for crypto, or one crypto asset for another. Moneysmart says you can buy or sell crypto on a trading platform using money, or deal directly. A platform may also hold crypto on your behalf.

That last part matters more than most people expect. If the platform holds your crypto, you are relying on that company to keep it safe and give it back when you ask.

Moneysmart's guidance, updated on 15 October 2026, says most crypto assets are high-risk investments with very volatile values. You could lose everything you put in. No check on this page removes that risk.

Check 1: AUSTRAC registration

Find the legal entity name in the platform's terms, then search that name in the AUSTRAC VASP register. You can also search by trading name or ABN. The legal name is the most reliable, because brand names and company names often differ.

AUSTRAC says virtual asset service providers must enrol and apply for registration before providing services. They cannot start until AUSTRAC approves registration. There is a transitional exception: providers of newly regulated virtual asset services that applied before 29 July 2026 can continue until AUSTRAC decides their application. AUSTRAC says criminal penalties apply to providing services without registration.

According to AUSTRAC, anti-money laundering and counter-terrorism financing obligations have applied from 31 March 2026 to services including crypto exchanges, transfers and safekeeping. Providers must usually check who their customers are before providing a designated service, with ongoing customer due diligence too.

Be clear about what a listing means. AUSTRAC registration is an anti-money laundering registration. AUSTRAC assesses money laundering, terrorism financing and other serious crime risk. Registration is not a financial services licence, safety rating or endorsement, and it does not protect your money if a platform fails.

AUSTRAC can approve registration with conditions, refuse it, suspend it or cancel it. Registration lasts three years, and a lapsed registration is removed from the register. AUSTRAC also publishes its virtual asset registration actions, such as refusals, suspensions and cancellations. So check the register itself rather than a claim on the exchange's website.

Moneysmart says there is currently no public register to check the legitimacy of crypto exchanges. The AUSTRAC register answers a narrower question: is this business registered for anti-money laundering purposes? A listing is not proof that an exchange is sound.

Check 2: who the company is

The terms of use usually name the company that runs the platform, with its ABN. If you can't find a legal entity name anywhere on the site, treat that as a warning sign.

Check the company and any claimed Australian financial services licence through the ASIC registers. A company record and an AFS licence answer different questions, so check the relevant records rather than treating company registration as financial services authorisation.

So is your exchange regulated? It depends on the service. AUSTRAC registration covers anti-money laundering obligations. An AFS licence covers financial services, and an exchange may hold one for some products only. Read the authorisations listed on the licence, not just the fact that one exists.

According to Moneysmart, many crypto providers are not licensed at this time, so you may not be protected if a platform fails or is hacked. Read is crypto legal in Australia for the wider context.

Check 3: warning lists and enforcement

Search Moneysmart's investor alert list and the AUSTRAC enforcement actions list using the legal name in the terms. If you find an entry, read it in full.

Moneysmart's investor alert list, updated on 27 October 2026, lists entities that may target Australians, do not hold an AFS or credit licence and are not allowed to offer investments. Moneysmart says the list is not exhaustive. Finding no entry is not proof of legitimacy.

Also consider how you reached the platform. Moneysmart warns that scammers impersonate real exchanges and create fake platforms, wallets and apps. A fake platform can display gains before locking you out.

Moneysmart identifies unexpected contact, pressure to act fast and guaranteed returns or free crypto as warning signs. It says an exchange or platform will never ask you to share your password. Read more about crypto scams before relying on a familiar name or an advertised claim.

Check 4: who holds your crypto

Read the terms to find out whether the platform holds your crypto for you. A balance on a screen tells you what you're owed, not who controls the private keys.

Moneysmart describes a private key as a secret code that lets you access your tokens. If you lose your private key, you usually lose the crypto. A software wallet can be held by you or by a trading platform on your behalf.

According to Moneysmart, a hardware wallet stores private keys on a secure device that is not connected to the internet, which can make it harder for hackers to reach. Read about hot and cold wallets to understand the distinction.

Moneysmart warns that you may not be protected if a platform fails or is hacked. It also says there is little hope of recovering crypto stolen by a hacker.

Check 5: fees and the real cost

Read the platform's fee page before treating its displayed trading fee as the full cost. Check the charges that could apply to buying, selling and moving your crypto:

• Trading fee: the charge for making a trade.
• Spread: the difference between buying and selling prices.
• Deposit and withdrawal fees: charges for moving money or crypto into or out of the platform.
• Network fees: charges associated with transactions on the crypto network.

We publish no fee figures on this page. Check what it costs to get money and crypto out, not only what it costs to buy.

Moneysmart also warns about sending crypto to the wrong address and paying transaction fees incorrectly. Overpaying gas fees costs you more, and underpaying can mean losing both the fee and the transaction.

Check 6: products that aren't plain crypto

A platform can offer services with different legal treatment from a straightforward crypto purchase. ASIC's INFO 225, updated in October 2025, says bitcoin is unlikely to be a financial product. Other things a platform offers can be treated quite differently.

ASIC distinguishes basic staking you do yourself from an exchange's managed staking service. A basic proof-of-stake arrangement is unlikely to be a financial product. A managed staking service with features that differ from the underlying blockchain is likely to be a facility for making a financial investment and potentially a managed investment scheme.

ASIC says a yield-bearing stablecoin is likely to be an interest in a managed investment scheme, and a wrapped token is likely to be a derivative. Some non-interest-bearing stablecoins can also be financial products. Read what a stablecoin is for background.

According to ASIC, contracts for difference, options, forwards and futures referencing digital assets, including perpetual futures, are likely derivatives. With these you speculate on the price without owning the coin. We explain them so you can recognise them; we don't link to them. For advice about your own situation, speak to a licensed financial adviser.

What changes from 8 April 2027

The Corporations Amendment (Digital Assets Framework) Act 2026 commences on 8 April 2027. It makes digital asset platforms and tokenised custody platforms financial products. Providing financial services for them will require an Australian financial services licence or an exemption.

Under the Act, a digital asset platform is a facility where an operator possesses digital tokens for or on behalf of clients. There are some exemptions, including one for very small platforms.

The Act provides a six-month transition period from commencement. A provider without the required authorisation can apply during that period, and the new rules will not apply to that service until ASIC decides. If the provider does not apply, the new rules apply when the transition ends.

ASIC's release dated 15 October 2026 says relevant requirements will include customer disclosure documents, platform rules and standards for holding assets. Read more about the digital asset platform law from 8 April 2027.

A checklist table

Frequently asked questions

Does AUSTRAC registration mean an exchange is safe?

No. It's an anti-money laundering registration, not a licence, a safety rating or an endorsement, and it does not protect your money if a platform fails.

How do I search for an exchange on the register?

Find the legal entity name in the exchange's terms, then search it on the AUSTRAC VASP register. You can also search by trading name or ABN.

Does a missing warning mean a platform is legitimate?

No. Moneysmart says its investor alert list is not exhaustive. The absence of an entry cannot establish legitimacy, and Moneysmart warns that scammers can impersonate real exchanges.

Can I lose crypto held by an exchange?

Yes. Moneysmart says you may not be protected if a platform fails or is hacked. It also warns that crypto stolen by a hacker is unlikely to be recovered.

Will platform licensing change in 2027?

Yes. The new digital asset platform laws commence on 8 April 2027, with a six-month transition period. The Act requires an AFS licence or an exemption for financial services involving the platforms it covers.