AUSTRAC suspends Cryptolink for three months and fines it $36,600 after failing to meet anti-money laundering reporting requirements.
Australia’s financial crime regulator suspended Cryptolink, a crypto ATM operator, forcing the shutdown of 96 machines nationwide. The three-month suspension began August 9, blocking the firm from providing virtual asset services during the period.
AUSTRAC cited concerns over money laundering and terrorism financing risks, stating Cryptolink failed to submit required transaction reports and ignored information requests. The regulator previously warned crypto ATM operators in March 2025 about inadequate anti-money laundering controls and imposed a 5,000 Australian-dollar cash limit in June.
Cryptolink was fined $36,600, which the company has paid. The suspension follows an investigation by AUSTRAC’s Cryptocurrency Taskforce into alleged breaches of anti-money laundering and counter-terrorism financing rules.