Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2017 (130 of 2017)

Schedule 1   Amendments

Part 2   Digital currencies

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

3   Section 5

Insert:

digital currency means:

(a) a digital representation of value that:

(i) functions as a medium of exchange, a store of economic value, or a unit of account; and

(ii) is not issued by or under the authority of a government body; and

(iii) is interchangeable with money (including through the crediting of an account) and may be used as consideration for the supply of goods or services; and

(iv) is generally available to members of the public without any restriction on its use as consideration; or

(b) a means of exchange or digital process or crediting declared to be digital currency by the AML/CTF Rules;

but does not include any right or thing that, under the AML/CTF Rules, is taken not to be digital currency for the purposes of this Act.

Digital Currency Exchange Register has the meaning given by section 76B.