Cryptolink Faces Australian Crackdown, Leaving 96 Crypto ATMs Inactive

Australia’s financial crime regulator has suspended crypto ATM operator Cryptolink Pty Ltd for three months, leaving 96 of its cryptocurrency machines offline across the country.

The Australian Transaction Reports and Analysis Centre (AUSTRAC) said the suspension took effect Aug. 9. Cryptolink cannot provide virtual asset services until the suspension ends.

The regulator said the action was triggered by Cryptolink’s failure to submit mandatory transaction reports and its refusal to respond to an AUSTRAC request for information.

Crypto ATMs let users exchange cash for digital currencies and serve as a point of access between fiat money and crypto assets. AUSTRAC said it continues to have concerns over Cryptolink’s ability to identify and control transactions that could pose increased money laundering or terrorism-financing risks.

AUSTRAC said Cryptolink initially complied with an enforceable undertaking issued in October 2025. The company later failed to meet reporting obligations, including the submission of threshold transaction reports, and did not answer a formal information request.

AUSTRAC CEO Brendan Thomas said the compliance shortcomings increased the operator’s risk profile to an unacceptable level, making a temporary suspension necessary.

The earlier undertaking followed an investigation by AUSTRAC’s Cryptocurrency Taskforce into possible breaches of anti-money laundering and counter-terrorism financing laws. That investigation highlighted late reporting and weaknesses in Cryptolink’s risk-management and assessment processes.

The company was also fined A$56,340, worth about $36,600, and has paid the penalty.

Australia Tightens Controls on Crypto ATMs

AUSTRAC increased scrutiny of the crypto ATM sector in March 2025 after identifying concerns that some operators may not have appropriate anti-money laundering measures in place.

In June, the regulator introduced a A$5,000 limit on cash deposits and withdrawals through cryptocurrency ATMs. It also introduced stronger requirements for customer verification, scam warnings and transaction monitoring.

Thomas said AUSTRAC will monitor Cryptolink throughout the suspension and will intervene against other crypto ATM operators if serious compliance issues or elevated financial crime risks emerge.