AUSTRAC suspends Cryptolink’s VASP registration for three months after missed reporting obligations and a $56,340 fine.
Australia’s financial intelligence agency suspended Cryptolink Pty Ltd’s registration as a Virtual Asset Service Provider for three months, shutting down its 96 crypto ATMs. The move follows repeated failures to meet anti-money-laundering reporting requirements, including missed threshold transaction reports and ignored information requests from regulators.
Cryptolink had previously entered an enforceable undertaking in October 2025 and paid a $56,340 fine but continued to violate compliance rules. AUSTRAC deemed the company’s operations too high-risk to continue, despite its earlier efforts to address regulatory concerns.
The suspension, effective August 9, signals a broader crackdown on crypto service providers failing to adhere to financial crime prevention measures. AUSTRAC’s action underscores the regulator’s focus on enforcing strict AML standards in the digital asset sector.