Australia’s financial crime watchdog has suspended Cryptolink’s registration, forcing 96 crypto ATMs offline for three months. The action escalates AUSTRAC’s scrutiny of cash-to-crypto services over anti-money laundering and reporting failures.
Australia’s financial crime watchdog has suspended Cryptolink’s registration, forcing 96 crypto ATMs offline for three months. The action escalates AUSTRAC’s scrutiny of cash-to-crypto services over anti-money laundering and reporting failures.
AUSTRAC said Cryptolink had failed to meet key reporting obligations and had not provided requested information needed to confirm compliance with AML laws. The regulator also cited unresolved concerns about the company’s ability to manage high-risk transactions, including late reports on large transactions.
Australia’s financial crime regulator AUSTRAC has suspended Cryptolink’s Virtual Asset Service Provider registration, forcing the operator’s 96 cryptocurrency ATMs offline for three months. The action follows compliance concerns tied to anti-money laundering and counter-terrorism financing rules.
The move matters because crypto ATMs have become a particular focus for Australian authorities investigating scams, money laundering and high-risk cash-to-crypto transfers. For users and operators, the suspension signals that access to physical crypto on-ramps can be interrupted when regulators judge compliance controls to be inadequate.
AUSTRAC said Cryptolink had failed to meet key reporting obligations and had not provided requested information needed to confirm compliance with AML laws. The regulator also cited unresolved concerns about the company’s ability to manage high-risk transactions, including late reports on large transactions.
The suspension comes after earlier action against Cryptolink. In October 2025, AUSTRAC issued the company a A$56,340 infringement notice and accepted an enforceable undertaking aimed at strengthening transaction monitoring, risk assessments and controls around large cash transactions.
The case fits into a broader Australian crackdown on crypto ATM operators. AUSTRAC has warned that the machines are being used in scam and money-mule activity, and the latest enforcement step raises the compliance bar for companies running similar networks across the country.
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