July 7, 2025
How to Register as a Digital Currency Exchange (DCE) Provider with AUSTRAC
How to Register as a Digital Currency Exchange (DCE) Provider with AUSTRAC: A Complete Guide
Entering the Australian digital asset market requires proper licensing and compliance. Zitadelle AG can help you register your company as a Digital Currency Exchange (DCE) service provider with AUSTRAC and set up your business successfully.
In this guide, we explain what is required to apply for DCE registration, how Zitadelle AG can support you throughout the process, and common questions about becoming a registered DCE in Australia.
Why Register with AUSTRAC?
In Australia, any business providing digital currency exchange services (such as trading crypto for fiat or crypto-to-crypto) must register with AUSTRAC, the country’s anti-money laundering regulator.
AUSTRAC registration ensures that your business complies with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) and is authorized to operate legally. Non-compliance can lead to heavy penalties and reputational damage.
Key Requirements for AUSTRAC DCE Registration
To apply for DCE registration, you need to prepare and submit the following documents and information:
Local Director
An Australian-based director is required to sit on the board of your company.
Compliance Officer
A qualified compliance officer responsible for AML/CTF obligations. This can be the same person as the local director or a separate individual with relevant AML experience and training. For multinational businesses, this role does not necessarily need to be held by an Australian resident if properly justified.
AML/CTF Program
A comprehensive AML/CTF policy covering KYC procedures, transaction monitoring, risk assessment, employee due diligence, training, and oversight of third-party service providers.
Business Plan
A detailed business plan outlining the services you plan to offer (OTC desk, exchange platform, custody, etc.), human and external resources, financial projections, target markets, and growth strategy.
Organisational Chart
A clear chart showing all key personnel, their names, positions, and responsibilities.
Third-Party Service Proofs
Contracts or agreements with KYC and transaction monitoring providers, office lease agreements, compliance advisors, and bank account agreements (virtual or traditional).
Police Checks/Non-Criminal Records
For all directors, key staff, compliance officer, and any ultimate beneficial owners (UBOs) holding at least 25% shares or control.
Office Address
An Australian office address is required. A virtual office is acceptable if it includes hot desk availability proportionate to your operations, as explained in the business plan.
Typical Timeline and Costs
After submission, AUSTRAC typically sends a follow-up questionnaire within 3 months. Once answered satisfactorily, approval is usually granted in another 3 months, provided there are no major deficiencies.
For clients interested in purchasing an already-registered dormant DCE company, the price can range from AUD/USD 150,000–250,000, depending on the circumstances.
How Zitadelle AG Can Help
Zitadelle AG is an international consultancy firm specializing in licensing and company formation for fintech and digital asset businesses. With our local Australian legal partners, we offer:
⭐ End-to-End Application Management
We handle the entire AUSTRAC application process, document preparation, and submission.
⭐ HR Assistance
We can help you find and appoint a suitable local director and/or compliance officer to strengthen your application and meet regulatory requirements.
⭐ Bank Account Opening
We assist with opening business bank accounts in Australia and abroad, providing you with operational flexibility.
⭐ Ongoing Compliance Advisory
Beyond registration, we can continue to support your AML/CTF compliance, audits, and reporting obligations.
Frequently Asked Questions (FAQ)
How long does it take to get AUSTRAC DCE registration?
On average, the process takes about 6 months from application submission to approval, assuming prompt responses and properly prepared documents.
Do I need to be an Australian citizen to register a DCE?
No, but you must have at least one Australian-based director on your board and a registered office address in Australia.
Can I use a virtual office for AUSTRAC registration?
Yes, but the virtual office agreement must include adequate hot desk arrangements proportionate to your team size and operational needs.
Why should I choose Zitadelle AG?
Zitadelle AG combines international experience in crypto licensing with on-the-ground expertise through our Australian partners. We offer a turnkey solution — company set-up, HR support, compliance advisory, and banking assistance — so you can focus on growing your business.
Ready to Start Your DCE in Australia?
Contact Zitadelle AG today to discuss your project and receive a tailored proposal for AUSTRAC registration and company set-up. Our team is ready to help you navigate Australia’s regulatory landscape and launch your digital currency exchange with confidence.
