Australia’s financial crime regulator has forced 96 Cryptolink crypto ATMs offline for three months after identifying renewed compliance failures. The suspension follows earlier enforcement over transaction reporting and anti-money laundering controls.
Key Takeaways
Cryptolink cannot operate its 96 crypto ATMs for three months.AUSTRAC cited failures involving required transaction reports.The company already paid a fine and agreed to a compliance deal.AUSTRAC CEO Brendan Thomas said:
“As part of our continued focus on digital currency as a money laundering risk, AUSTRAC has ongoing concerns about the company’s ability to manage high-risk transactions through its CATMs.”
What Reporting Failures Triggered the Suspension?Conditions imposed under an earlier enforceable undertaking were satisfied, AUSTRAC stated, though the company subsequently failed to meet basic reporting obligations, particularly requirements covering threshold transactions. The regulator also stated that the company failed to submit required reports or respond to an information request, leading AUSTRAC to classify its continued operation as too high risk at present.
Why Are Crypto ATMs Drawing Greater Regulatory Attention?Earlier enforcement against the same operator included an infringement notice of A$56,340, roughly US$39,000 at current exchange rates, which Cryptolink paid without admitting liability, AUSTRAC stated. The regulator established its Crypto Taskforce amid heightened supervision of cryptocurrency ATM operators and has conducted supervisory engagements with the sector since late 2024.
Thomas said:
“Cryptolink was given the opportunity to comply but could not meet its obligations despite the enforceable undertaking.”
At the Oct. 31, 2025 exchange rate, the Australian-dollar penalty was worth approximately US$36,900.
How Are Other Governments Responding to Crypto ATM Risks?Monitoring of Cryptolink will continue throughout the three-month suspension, which runs until early November, to ensure the company complies with the order, AUSTRAC stated.
