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Australia suspends Cryptolink crypto ATMs after compliance failures
AUSTRAC said it suspended Cryptolink for failing to file required transaction reports and for concerns its ATM activity could be used for money laundering and terrorism financing.
Australia has suspended the operator of crypto ATMs, forcing Cryptolink to shut down its machines across the country, according to Yahoo Finance. AUSTRAC, the Australian financial crime watchdog, said the three month suspension took effect on Aug. 9, 2026.
The regulator said the suspension prevents Cryptolink from providing virtual asset services while it remains in effect. Crypto ATMs let users exchange cash for cryptocurrencies such as Bitcoin, acting as a bridge between fiat and digital assets.
AUSTRAC said it is concerned about Cryptolink transactions being used for money laundering and terrorism financing. It added that Cryptolink failed to submit required transaction reports and did not respond to an AUSTRAC request for information.
The regulator said it investigated Cryptolink and other crypto ATM operators through its Cryptocurrency Taskforce and cited alleged breaches of anti money laundering and counter terrorism financing rules. AUSTRAC has fined Cryptolink the equivalent of $36,600 U.S., which the company has paid, and it has taken earlier steps including a 5,000 Australian dollar limit on cash deposits and withdrawals at crypto ATMs in June, Yahoo Finance reported.
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