AUSTRAC Suspends Cryptolink Registration, Shutting 96 Crypto ATMs for Three Months
AUSTRAC has suspended the virtual asset service provider registration of Cryptolink Pty Ltd for three months, forcing the company’s network of 96 cryptocurrency ATMs across Australia to stop operating.
The suspension took effect on 9 August 2026 and follows ongoing concerns about Cryptolink’s compliance with Australia’s anti-money laundering and counter-terrorism financing requirements.
According to AUSTRAC’s action, the regulator remained concerned about Cryptolink’s ability to manage higher-risk transactions conducted through its crypto ATMs. The company had failed to submit required threshold transaction reports and did not respond to an AUSTRAC request for information intended to assess whether its machines were operating in compliance with the law.
The latest action follows earlier enforcement against Cryptolink. In October 2025, AUSTRAC issued the company a A$56,340 infringement notice and accepted a court-enforceable undertaking addressing AML/CTF deficiencies identified by the regulator’s cryptocurrency taskforce. Those concerns included late reporting of large cash transactions and weaknesses in the company’s money laundering and terrorism financing risk assessments.
AUSTRAC has increasingly focused on crypto ATMs as a higher-risk channel for money laundering, scams and other illicit activity. The regulator has previously imposed additional conditions on crypto ATM operators, including transaction limits, enhanced customer due diligence, scam warnings and stronger transaction monitoring requirements.
The Cryptolink suspension shows that AUSTRAC is prepared to move beyond remediation measures where a crypto operator does not demonstrate adequate improvement. For VASPs, reporting obligations and timely responses to regulatory information requests are becoming central tests of whether AML/CTF controls are effective in practice.
Controls expected from crypto ATM operators
Crypto ATMs combine cash, rapid settlement and virtual assets, making them attractive for scam payments and laundering. Operators need controls that connect the customer, cash deposit, destination wallet and purpose of the transaction rather than treating each step separately.
- Apply enhanced checks to large or repeated cash transactions.
- Screen destination wallets for sanctions and illicit-finance exposure.
- Identify customers using several machines or locations.
- Submit threshold and suspicious transaction reports on time.
- Respond promptly and completely to regulatory information requests.
The suspension also shows that earlier undertakings and monetary penalties do not end supervisory scrutiny. Regulators will expect evidence that remediation changed actual behaviour across the ATM network.
