AUSTRAC Shuts Down 96 Cryptolink Crypto ATMs Over AML Failures

TLDR

• AUSTRAC suspends Cryptolink and forces 96 crypto ATMs offline for three months.

• Cryptolink failed key transaction reporting duties despite earlier regulator action.

• The operator also failed to respond to AUSTRAC’s formal information request.

• AUSTRAC had already fined Cryptolink A$56,340 over earlier compliance failures.

• Australia continues tightening crypto ATM rules to curb scams and money laundering.

AUSTRAC has suspended Cryptolink’s registration for three months, forcing 96 crypto ATMs across Australia to stop operating. The action follows repeated failures involving reporting duties and anti-money laundering controls. The regulator said the company now presents an unacceptable compliance risk.

AUSTRAC Suspends Cryptolink After Reporting Failures

AUSTRAC said Cryptolink failed to submit required threshold transaction reports after earlier regulatory intervention. The company also failed to answer a formal request for information from the agency. Those failures triggered the three-month suspension that started on August 9.

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