Australia’s anti-money laundering watchdog has suspended the operation of Cryptolink’s Bitcoin ATMs for three months, citing “ongoing concerns” about its compliance with anti-money laundering obligations.
Australia has the highest number of crypto ATMs of all countries in the Asia-Pacific region. Australian authorities have been cracking down on the criminal use of crypto ATMs since at least late 2024.
AUSTRAC CEO Brendan Thomas said Monday the company’s Virtual Asset Service Provider (VASP) registration has been suspended for three months starting Sunday, meaning its crypto ATMs will not be allowed to operate during that time.
AUSTRAC said Cryptolink failed to meet basic reporting requirements, particularly threshold transaction reports, and did not respond to AUSTRAC’s request for information.
“As part of our continued focus on digital currency as a money laundering risk, AUSTRAC has ongoing concerns about the…
