PANews reported on May 16 that according to Decrypt, the Australian cryptocurrency exchange Cointree was fined A$75,120 by the financial regulator AUSTRAC for delaying the submission of suspicious transaction reports. The exchange proactively disclosed compliance loopholes and is currently upgrading its internal monitoring system. According to Australia's anti-money laundering regulations, suspicious fund flows must be reported within 3 working days, and suspected terrorist financing must be reported within 24 hours. AUSTRAC Director Brendan Thomas pointed out that timely reporting is crucial to tracking criminal fund flows. This is the latest move by the agency to strengthen supervision of the crypto industry since 2024. It has previously imposed penalties on 13 companies that violated the regulations and issued warnings to more than 50 institutions.