Home Affairs and Austrac think blockchain can reduce compliance costs | ZDNet

Home Affairs and Austrac think blockchain can reduce compliance costs | ZDNet

The Department of Home Affairs, alongside the Australian Transaction Reports and Analysis Centre (Austrac), has highlighted blockchain as a means to help reporting entities comply with their compliance and regulation requirements. The comments were made in a joint submission [PDF] to the Select Committee on Financial Technology and Regulatory Technology and its probe into the opportunities the two vectors present to Australia.