Australia Pulls 96 Crypto ATMs Offline Over AML Reporting Failures
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has suspended crypto ATM operator Cryptolink’s registration for 3 months, forcing its 96 cryptocurrency ATMs throughout Australia offline.
The regulator cited ongoing issues over the corporate’s anti-money laundering and counter-terrorism financing compliance.
Reporting Failures Trigger AUSTRAC’s Action Against Cryptolink
The suspension started Sunday, August 9, in keeping with AUSTRAC. CEO Brendan Thomas said the regulator stays involved about how Cryptolink manages high-risk transactions by its machines.
Thomas additionally acknowledged that the corporate didn’t “meet primary reporting obligations.”
“The firm didn’t submit these required studies or reply to AUSTRAC’s request for data, thus we’ve deemed it too high danger to proceed working at current,” the AUSTRAC CEO added.
The newest motion follows an earlier compliance intervention in October 2025. AUSTRAC had recognized late reporting of enormous money transactions and weaknesses in Cryptolink’s money-laundering and terrorism-financing danger assessments.
The regulator then accepted an enforceable endeavor and issued a $56,340 infringement discover.
“We will proceed to maintain an in depth watch on the cryptocurrency sector, significantly companies working crypto ATMs, and can take motion the place we establish severe dangers or non-compliance,” Thomas talked about.
Cryptolink said in October that it had acknowledged delayed threshold transaction studies and was strengthening its programs. The firm additionally stated it was conducting impartial opinions, bettering transaction monitoring, and updating its danger assessments.
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Crypto ATMs Face Wider Regulatory Pressure
The newest motion varieties a part of broader regulatory scrutiny of cryptocurrency ATMs worldwide. In the US, Missouri sued CoinFlip, a crypto ATM operator, in May.
Indiana, Tennessee, and Minnesota have also banned crypto ATM kiosks. Meanwhile, Canada has proposed a nationwide ban on crypto ATMs.
The UK took comparable motion earlier. The Financial Conduct Authority ordered crypto ATM operators to close down in 2022.
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