Crypto▼ Bearish
Australia suspends Cryptolink’s crypto ATMs for three months
AUSTRAC suspended Cryptolink’s Bitcoin ATM operations for three months over AML compliance failures. With Bitcoin below $70k, regulatory FUD in the top Asia-Pacific ATM hub adds downside risk.
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Australia’s anti-money laundering watchdog suspended Cryptolink’s Bitcoin ATM operations for three months, citing “ongoing concerns” over its compliance with AML obligations.
AUSTRAC, the country’s financial intelligence unit, said Cryptolink failed to meet basic reporting requirements, particularly threshold transaction reports, and did not respond to requests for information. The regulator’s CEO said it will keep focusing on digital currencies as a potential money-laundering risk.
Australia has the highest number of crypto ATMs in the Asia-Pacific region. These machines let people buy Bitcoin with cash or debit cards. The suspension of Cryptolink’s machines could hit the local crypto ATM sector and, indirectly, Bitcoin accessibility. The machines are increasingly tied to scams. U.S. authorities reported more than $388 million in losses from crypto ATM scams in 2025. Several U.S. states have responded with tighter rules or outright bans. Canada has also proposed a nationwide ban.