Australia’s financial intelligence agency has temporarily halted operations of a major cryptocurrency ATM network, citing ongoing failures to meet anti-money laundering and counter-terrorism financing rules.
AUSTRAC suspended the registration of Cryptolink Pty Ltd as a Virtual Asset Service Provider for three months, effective from 9 August 2026. As a result, the company’s 96 cryptocurrency automatic teller machines (CATMs) across the country can no longer function.
These machines enable users to convert physical cash into digital assets. Cryptolink had built a substantial presence in the sector, with units typically located in high-traffic areas of major cities.
The suspension means the firm is barred from offering the virtual asset services covered by its registration during the three-month period.
AUSTRAC Chief Executive Brendan Thomas explained that the decision stemmed from persistent worries about the operator’s capacity to handle elevated-risk activity through its machines.
Digital currency remains a priority focus for the agency because of its potential role in illicit finance.
Thomas noted that while Cryptolink had previously satisfied the terms of an earlier agreement, it later fell short on fundamental reporting duties.
In particular, the company did not lodge required threshold transaction reports and failed to reply to an official request for information from the regulator.
These lapses led AUSTRAC to conclude that continued operations posed an unacceptable level of risk at this time.
The current measure builds on prior regulatory intervention.
In October 2025, AUSTRAC’s Cryptocurrency Taskforce identified alleged breaches of anti-money laundering laws.
These included delayed submission of reports on larger cash movements and shortcomings in the firm’s assessments of money laundering and terrorism-financing risks.
At that point, the agency accepted an enforceable undertaking from Cryptolink and issued an infringement notice amounting to $56,340, which the company paid in full.
The undertaking required the business to strengthen its systems, including independent reviews and improved monitoring.
