OK so what’s actually happening: AUSTRAC’s Travel Rule kicks in on July 1st.
Exchanges must collect sender/receiver info on transfers. You may be asked where funds are going (withdrawals) or where they came from (deposits).
Not a ban, not tax tracking but it IS the end of no-questions-asked transfers through Aussie exchanges.
Self-custody between your own wallets still works, you just might have to prove the wallet is yours.
Absolutely wild times ahead.