Agate is now officially registered as a digital currency exchange provider with AUSTRAC.

We are very excited to share one important announcement regarding our Agate project. Finally the good news which Agate’s team was tirelessly working towards and all supporters were eagerly waiting for has arrived. Our Agate project is now officially registered with Australian Transaction Reports and Analysis Centre (AUSTRAC) and can legally operate as a cryptocurrency exchange and can accept and exchange fiat, digital assets and any other cryptocurrency.

From 3 April 2018, all businesses providing Digital Currency Exchange (DCE) services in Australia are regulated under new laws. As part of these new laws, businesses that provide these services must be registered with Austrac to provide Digital Currency Exchange services.

DCE businesses are required to meet AML/CTF obligations, including:

· Adopting and maintaining an AML/CTF program to identify, mitigate and manage money laundering and terrorism financing risks

· Identifying and verifying the identities of their customers

· Reporting to AUSTRAC suspicious matters, and transactions involving physical currency of $10,000 or more

· Keeping certain records for seven years.

https://www.austrac.gov.au/business/industry-specific-guidance/digital-currency-exchange-providers

We submitted an application to AUSTRAC and we are pleased to announce that we have been successful.

Please note that the registration of our business as a digital currency exchange provider does not constitute an endorsement of our business or your compliance with any AML/CTF obligations. We will not use this registration status in any way that suggests AUSTRAC or the Commonwealth Government endorses us or any of our services or products.

To find out more on Agate, please visit https://www.agatechain.org/

General and Investors contact:

Name: Nathan Sabherwal