Regulator halts operations for three months after the operator failed to meet reporting requirements and was fined $56,340.
Australia’s financial intelligence agency suspended Cryptolink’s Bitcoin ATM operations for three months due to ongoing anti-money laundering compliance failures. The move follows a $56,340 fine imposed on the operator for failing to submit threshold transaction reports and respond to regulatory requests.
Cryptolink, a Virtual Asset Service Provider, had previously entered an enforceable undertaking with AUSTRAC in October 2025 after breaches were identified. Australia leads the Asia-Pacific region in crypto ATM installations, prompting heightened scrutiny of high-risk transactions.
AUSTRAC CEO Brendan Thomas stated the suspension reflects concerns over Cryptolink’s ability to manage money laundering risks through its crypto ATMs. The crackdown aligns with broader efforts to curb illicit crypto use since late 2024.