Australia’s financial crime regulator has suspended the registration of crypto ATM operator, Cryptolink, for three months, ordering its 96 machines offline after the company failed to meet basic anti-money laundering reporting requirements.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) said Cryptolink failed to submit required threshold transaction reports and did not respond to requests for information.
The suspension follows an enforceable undertaking agreed with AUSTRAC in October 2025 after the regulator identified late reporting of large cash transactions and weaknesses in Cryptolink’s anti-money laundering and counter-terrorism financing risk assessments. The company also paid a A$56,340 ($36,700) infringement notice.
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AUSTRAC CEO, Brendan Thomas, said the regulator remained concerned about Cryptolink’s ability to manage high-risk transactions through its crypto ATMs.
The action highlights growing regulatory scrutiny of crypto ATM operators in Australia where authorities have identified the machines as a significant money-laundering and scam risk.
AUSTRAC said its Crypto Taskforce found that 85% of transactions involving the 90 most frequent crypto ATM users were linked to scams or money-mule activity.
“As part of our continued focus on digital currency as a money laundering risk, AUSTRAC has ongoing concerns about the company’s ability to manage high-risk transactions through its CATMs,” Mr Thomas said.
“While Cryptolink met the conditions stipulated in its enforceable undertaking, it subsequently failed to meet basic reporting obligations, particularly for threshold transaction reports.
The company failed to submit these required reports or respond to AUSTRAC’s request for information, thus we’ve deemed it too high risk to continue operating at present.”
Mr Thomas said AUSTRAC would monitor Cryptolink to ensure it complies with the suspension.
“Cryptolink was given the opportunity to comply but could not meet its obligations despite the enforceable undertaking.
We will continue to keep a close watch on the cryptocurrency sector, particularly businesses operating crypto ATMs, and will take action where we identify serious risks or non-compliance.”
