Home›Crypto›Regulation›Australia suspends Cryptolink’s crypto ATM network as…

Australia suspends Cryptolink’s crypto ATM network as AUSTRAC cites AML lapses

AUSTRAC suspended Cryptolink Pty Ltd’s VASP registration for three months starting August 9, impacting 96 crypto ATMs and citing missed threshold transaction reporting plus unanswered information requests.

Reported · Written up by our desk · Regulation

Australia’s financial-crime regulator AUSTRAC has suspended the registration of Cryptolink Pty Ltd, the operator running 96 crypto ATMs, effective August 9.

According to Decrypt, AUSTRAC said the company missed “basic reporting obligations,” particularly threshold transaction reports for certain cash movements, and also failed to respond to information requests. AUSTRAC CEO Brendan Thomas said the regulator deemed it too high risk to continue operating at present.

The action follows an earlier enforceable undertaking and a $56,340 fine that Cryptolink already paid after alleged late reporting and weak risk assessments were identified in 2025. Decrypt reports that AUSTRAC moved anyway, saying the prior penalties bought time that the operator did not use.

AUSTRAC said Australia hosts about 1,800 crypto ATMs, the highest number in the Asia Pacific region, up sharply from 23 in 2019. The Australian Federal Police has estimated roughly $275 million moves through the country’s Bitcoin and crypto ATMs each year.

Latest closeBitcoin $63,950.00 ▼1.4%

More like this

Sources