The Australian Transaction Reports and Analysis Centre (AUSTRAC) has suspended crypto ATM operator Cryptolink’s registration for 3 months, forcing its 96 cryptocurrency ATMs across Australia offline.
The regulator cited ongoing concerns over the company’s anti-money laundering and counter-terrorism financing compliance.
Reporting Failures Trigger AUSTRAC’s Action Against Cryptolink
The suspension began Sunday, August 9, according to AUSTRAC. CEO Brendan Thomas said the regulator remains concerned about how Cryptolink manages high-risk transactions through its machines.
Thomas also stated that the company failed to “meet basic reporting obligations.”
“The company failed to submit these required reports or respond to AUSTRAC’s request for information, thus we’ve deemed it too high risk to continue operating at present,” the AUSTRAC CEO added.
The latest action follows an earlier compliance intervention in October 2025. AUSTRAC had identified late reporting of large cash transactions and weaknesses in Cryptolink’s money-laundering and terrorism-financing risk assessments.
The regulator then accepted an enforceable undertaking and issued a $56,340 infringement notice.
“We will continue to keep a close watch on the cryptocurrency sector, particularly businesses operating crypto ATMs, and will take action where we identify serious risks or non-compliance,” Thomas mentioned.
Cryptolink said in October that it had acknowledged delayed threshold transaction reports and was strengthening its systems. The company also said it was conducting independent reviews, improving transaction monitoring, and updating its risk assessments.
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Crypto ATMs Face Wider Regulatory Pressure
The latest action forms part of broader regulatory scrutiny of cryptocurrency ATMs worldwide. In the US, Missouri sued CoinFlip, a crypto ATM operator, in May.
Indiana, Tennessee, and Minnesota have also banned crypto ATM kiosks. Meanwhile, Canada has proposed a nationwide ban on crypto ATMs.
The UK took similar action earlier. The Financial Conduct Authority ordered crypto ATM operators to shut down in 2022.
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Source: BeInCrypto
