Recently, Russia and the EU have reportedly implemented laws that regulate crypto in the country. While this might particularly impact the crypto market, FAMEEX exchange, the new crypto exchange that is regulated in Australia, accommodates local regulations and laws to ensure all traders the natures of the crypto market. This legal status means that FAMEEX is subject to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF 2006), section 5, and associated rules. Accordingly, Bitcoin, and cryptocurrencies that share its characteristics, are treated as property and subject to Capital Gains Tax (CGT).
In order to provide the safest crypto trading experience for FAMEEX users, it is the number 1 priority to strictly comply with the regulations in the jurisdictions in which FAMEEX is operating. As a fully licensed Australian crypto asset business registered with AUSTRAC, FAMEEX complies fully with any and all regulations that apply to the operation and adoption.
Consistency and Predictability
FAMEEX truly believes that licensing can be useful in allowing crypto service providers to operate a successful and growing legal business. That being said, the regulatory authorities must strike a delicate balance between consumer protection and consumer freedom. Cryptocurrency businesses will always seek to operate in a regulatory environment that allows them the stability and freedom to grow and FAMEEX entails those approaches to crypto regulation provides the necessary criteria.
FAMEEX will continue to observe the regulatory changes around the world, and update its internal procedures to best reflect FAMEEX willingness to adhere to the spirit of rules that combat cybercrime and make the crypto world a better, safer place. At the same time, FAMEEX hopes regulators will take into account the views of the crypto industry when drafting regulations so that honest and legal companies are not driven to find new jurisdictions or driven out of business altogether.
Learn More About FAMEEX
Launched in 2020. FAMEEX is a global cryptocurrency exchange that currently provides a series of financial services including fiat-to-crypto, crypto-to-crypto, grid trading, futures, token listing, global affiliate, and the super rebate program. With more than 200,000 users across 30 countries and regions around the world we provide a secure, stable, efficient 24/7 trading experience.
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Trade on-the-go with the FAMEEX app (iOS/Android)
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