Electronic Money Supervisory Commission



What we do

The E-Money Supervisory Commission (EMSCOMM) – A commission composed of highly acknowledged scholars and economist all over the world that supervise and regulates the responsible use of E-Money.

We contribute to an economic reputation and wellbeing by ensuring that E-money transactions and financial markets are fair and transparent, supported by confident and informed members and consumers.

We are an independent Commonwealth Government body.

The EMSCOMM requires us to:

  • maintain, facilitate and improve the performance of the financial system and entities in it
  • promote confident and informed participation by investors and consumers in the financial system
  • administer the law effectively and with minimal procedural requirements
  • enforce and give effect to the law
  • receive, process and store, efficiently and quickly, information that is given to us
  • make information about companies and other bodies available to the public as soon aspracticable.

Who we regulate

We regulate E-money companies, financial markets, financial services organizations and professionals who deal and advice in E-money and other cryptocurrency marketing.

As the consumer credit regulator, we license and regulate people and businesses engaging in consumer credit activities. We ensure that licensees meet the standards – including their responsibilities to consumers.

As the markets regulator, we assess how effectively authorized financial markets are complying with their legal obligations to operate fair, orderly and transparent markets. We also advise the Minister about authorizing new markets.

As the financial services regulator, we license and monitor financial services businesses to ensure that they operate efficiently, honestly and fairly.

Our powers

The laws we administer give us the facilitative, regulatory and enforcement powers necessary for us to perform our role. These include the power to:

  • register companies and managed investment schemes
  • grant E-money financial services licenses and E-money credit licenses
  • register auditors and liquidators
  • grant relief from various provisions of the legislation which we administer
  • Maintain publicly accessible registers of information about companies that deal e-money and cryptocurrencies.
  • Make rules aimed at ensuring the integrity of cryptocurrencies.
  • stop the issue of financial products under defective disclosure documents
  • investigate suspected breaches of the law and in so doing require people to produce books or answer questions at an examination
  • issue infringement notices in relation to alleged breaches of some laws
  • ban people from engaging in credit activities or providing financial services
  • seek civil penalties from the courts

Protecting consumers and investors

We have powers to protect consumers against misleading or deceptive and unconscionable conduct affecting all e-money products and services, including credit.