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Australia suspends operator behind 96 crypto ATMs after reporting failures
The action by AUSTRAC takes effect August 9 for a three month period, despite Cryptolink already paying a $56,340 fine under a prior undertaking.
AUSTRAC has suspended the Virtual Asset Service Provider registration of Cryptolink Pty Ltd, shutting down the operator's 96 crypto ATMs in Australia for three months starting August 9, according to Decrypt.
The regulator said the company missed basic anti money laundering reporting obligations, with particular emphasis on threshold transaction reports for certain cash movements, and it also failed to respond to information requests.
AUSTRAC CEO Brendan Thomas said AUSTRAC deemed it too high risk to continue operations at present, noting the suspension follows an October 2025 enforceable undertaking and a $56,340 fine that the company already paid.
Cryptolink's machines are part of a broader footprint, with AUSTRAC citing about 1,800 crypto ATMs in Australia, up from 23 in 2019, and the Australian Federal Police estimating roughly $275 million in annual bitcoin and crypto ATM activity.
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