Australia Suspends 96 Bitcoin ATMs in Cryptolink AML Crackdown
Key Insights
- Bitcoin ATMs went offline after AUSTRAC suspended Cryptolink’s registration.
- Cryptolink previously paid $56,340 over late transaction reporting failures.
- Australia has tightened anti-money laundering controls across crypto ATM operators.
Australia’s anti-money laundering regulator suspended Cryptolink’s registration, forcing its Bitcoin ATMs offline for three months. The Australian Transaction Reports and Analysis Centre announced the action on Aug. 10. The suspension began Aug. 9 after the regulator identified continued reporting failures.
The action tightened Australia crypto regulation around cash-to-crypto services after a year of closer supervision. AUSTRAC has treated crypto ATM activity as a higher-risk channel for scams and money laundering. Cryptolink’s case showed corrective agreements did not prevent further enforcement when reporting problems continued.
AUSTRAC Suspends Cryptolink Bitcoin ATMs for Three Months
AUSTRAC CEO Brendan Thomas said Cryptolink could no longer operate its 96 Bitcoin ATMs during the suspension. Cryptolink operates cryptocurrency machines that let customers exchange physical cash for digital assets. The regulator said concerns remained about the company’s handling of higher-risk transactions.
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