CRYPTO CRIME | Australia Suspends a Leading Crypto ATM Operator Over Compliance Failures

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.

REGULATION | Second U.S State Bans Crypto ATMs Due to Fraud

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.