AUSTRAC Cancels GetCoins Registration After Scam Complaints

AUSTRAC canceled the registration of BA Digital Ventures Pty Ltd, trading as GetCoins, citing customer complaints that the platform was exploited in alleged cryptocurrency investment scams. The regulator’s official record shows the cancellation decision dated June 4, 2026 and AUSTRAC published details on Sept. 7, 2026.

The regulator said it engaged with the National Anti-Scam Centre after receiving complaints and requested information from GetCoins to assess whether the firm could manage money laundering and other financial crime risks. AUSTRAC described the provider as having been exploited by organised cryptocurrency investment scams.

AUSTRAC said its engagement with the anti-scam centre, together with the cancellation, helped disrupt the alleged scam activity. The regulator did not allege that GetCoins organised the scams and did not disclose any amounts recovered for customers or any criminal findings linked to the provider in its public disclosure.

The cancellation of GetCoins is part of a wider set of actions. Over the past year AUSTRAC canceled, suspended or refused to renew 45 remittance and virtual asset provider registrations. The regulator did not provide a sector-by-sector breakdown or specify how many of the 45 were cancellations, suspensions or refusals to renew, and warned the figure should not be read as 45 crypto firms losing registration through cancellation alone.

Under Australian rules, businesses that provide digital currency exchange or other virtual asset services must be registered with AUSTRAC to operate legally. Losing registration removes the permission to provide those services. AUSTRAC can refuse an application, or impose suspension, cancellation or non-renewal on an existing registration, and it may place conditions on a registration where it finds unacceptable money laundering, terrorism financing or other serious crime risk.

AUSTRAC CEO Brendan Thomas stated, “Businesses with canceled registrations can no longer operate.” In a summary of enforcement activity, the regulator listed a range of grounds for action across the 45 cases, including firms lacking capacity to begin or continue trading, dormant or inactive businesses, insolvency, inadequate registration documentation and failures to report material changes, as well as instances where significant money laundering or terrorism financing risk was identified.

GetCoins appears in AUSTRAC’s record as a cancellation decision. AUSTRAC’s public disclosure did not include details on customer reimbursements, prosecutions or the outcome of any separate criminal investigations related to the provider.