Australia’s monetary crime watchdog suspended crypto ATM operator Cryptolink Pty Ltd for 3 months, forcing the agency to close down 96 machines throughout the nation.
The Australian Transaction Stories and Evaluation Centre, often known as AUSTRAC, mentioned the suspension took impact Aug. 9. Cryptolink can not present digital asset companies whereas the order stays in place.
Crypto ATMs permit clients to make use of money to purchase cryptocurrency, serving as a bridge between fiat forex and crypto. AUSTRAC mentioned it stays involved about Cryptolink’s skill to handle transactions that carry a better danger of cash laundering or terrorism financing.
The regulator mentioned Cryptolink initially met the phrases of an enforceable endeavor imposed in October 2025. The corporate later didn’t submit required threshold transaction reviews and didn’t reply to an AUSTRAC data request.
AUSTRAC CEO Brendan Thomas mentioned these failures made the enterprise “too excessive danger to proceed working at current.”
The sooner endeavor adopted an investigation by AUSTRAC’s Cryptocurrency Taskforce into alleged breaches of anti-money laundering and counter-terrorism financing guidelines. The regulator cited late transaction reviews and weaknesses in Cryptolink’s danger assessments.
AUSTRAC additionally issued Cryptolink a high-quality of 56,340 Australian {dollars} ($36,600), which the corporate paid.