Australia’s financial crime regulator has ordered crypto ATM operator Cryptolink Pty Ltd to suspend operations for three months, taking 96 machines offline across the country.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) said the suspension started Aug. 9 and prevents Cryptolink from providing virtual asset services during the enforcement period.
According to AUSTRAC, the action followed two compliance failures: Cryptolink did not submit required transaction reports and failed to respond to an official request for information.
Crypto ATMs allow customers to purchase digital assets using cash and provide a direct connection between fiat currency and cryptocurrency. AUSTRAC said it remains concerned about Cryptolink’s ability to identify and manage transactions carrying higher risks of money laundering and terrorism financing.
The regulator said Cryptolink had initially complied with an enforceable undertaking issued in October 2025. The company later failed to file threshold transaction reports as required and did not provide information requested by AUSTRAC.
AUSTRAC CEO Brendan Thomas said the failures increased the company’s risk to a point where it was not appropriate for the operator to remain active.
The earlier undertaking followed an investigation by AUSTRAC’s Cryptocurrency Taskforce into suspected breaches of anti-money laundering and counter-terrorism financing obligations. Investigators had identified late reporting and weaknesses in Cryptolink’s assessment of financial crime risks.
Cryptolink was also issued a A$56,340 fine, equivalent to about $36,600, which it has paid.
Australia Tightens Rules for Crypto ATMs
AUSTRAC stepped up scrutiny of crypto ATM operators in March 2025 after warning that some businesses may not have adequate anti-money laundering safeguards.
In June, the regulator introduced a A$5,000 limit for cash deposits and withdrawals through crypto ATMs. It also required operators to strengthen customer verification procedures, provide scam warnings and improve transaction monitoring.
Thomas said AUSTRAC will closely supervise Cryptolink throughout the suspension. He added that enforcement action could also be taken against other crypto ATM providers if serious compliance breaches or significant financial crime risks are uncovered.
