AUSTRAC suspends crypto ATM operator, takes 96 machines offline

The regulator's concern is not about whether someone buys Bitcoin or Ethereum at these machines. It is about whether the operator has any idea if the person feeding cash into the machine is being defrauded.

Australia's crypto ATM network has grown from just 23 machines in 2019 to roughly 1,800 today. Those machines process about 150,000 transactions a year, with annual volumes near $275 million. The vast majority of that volume flows through cash deposits.

In July 2025, AUSTRAC rolled out nationwide operational requirements for crypto ATM providers, including a hard cap of $5,000 per cash transaction. The rules require operators to know their customers and report suspicious activity.

AUSTRAC had already denied registration renewals to another operator, Harro's Empires, signaling a willingness to use deregistration rather than rely solely on fines. The Cryptolink suspension is the first active shutdown of a major operator under the new rules.

The regulator said it will review whether to extend the suspension beyond three months or permanently revoke the registration. Cryptolink can appeal the decision in Australia's Administrative Appeals Tribunal.