Australia's financial intelligence agency, AUSTRAC, has commenced targeted regulatory reviews of 63 cryptocurrency firms. The reviews, announced on May 8, focus on 36 over-the-counter crypto exchange operators to assess their money laundering risk management for crypto-to-fiat transactions. Additionally, 27 local cryptocurrency exchanges are being evaluated for their compliance with the new regulatory framework. These inspections are part of Australia's broader anti-money laundering reforms, effective since March 31, which expand oversight to include custodians, brokers, and other virtual asset service providers. The initiative underscores AUSTRAC's commitment to enhancing regulatory compliance within the virtual asset sector.