Australia Suspends Cryptolink, Taking 96 Crypto ATMs Offline

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

The Australian Transaction Reports and Analysis Centre, or AUSTRAC, said the suspension began Aug. 9. During the suspension period, Cryptolink is prohibited from providing virtual asset services.

AUSTRAC said the action was prompted by the company’s failure to submit required transaction reports and its decision not to respond to an information request from the regulator.

Crypto ATMs allow users to exchange cash for digital assets, providing a link between traditional currency and cryptocurrency. AUSTRAC said it remains concerned about Cryptolink’s ability to properly oversee transactions that could present elevated risks of money laundering or terrorism financing.

The regulator said Cryptolink initially complied with an enforceable undertaking imposed in October 2025. The company later failed to file mandatory threshold transaction reports and did not provide information requested by AUSTRAC.

AUSTRAC CEO Brendan Thomas said the compliance failures meant Cryptolink was considered too risky to continue operating at this time.

The earlier undertaking followed an investigation by AUSTRAC’s Cryptocurrency Taskforce into suspected violations of Australia’s anti-money laundering and counter-terrorism financing requirements. At the time, the regulator pointed to delays in transaction reporting and deficiencies in the company’s risk-assessment procedures.

Cryptolink was also fined A$56,340, equivalent to roughly $36,600, and paid the penalty.

Australia Tightens Oversight of Crypto ATMs

AUSTRAC began warning cryptocurrency ATM operators in March 2025 after identifying concerns that some businesses may not have adequate anti-money laundering systems in place.

In June, the regulator introduced a A$5,000 cap on cash deposits and withdrawals through crypto ATMs. It also imposed additional requirements covering customer verification, scam warnings and transaction monitoring.

Thomas said AUSTRAC will continue monitoring Cryptolink throughout its suspension. He added that the regulator will take action against other crypto ATM operators if it discovers serious compliance failures or heightened financial crime risks.