Finance · 10 August, 2026 · 1 min read
AUSTRAC Suspends Cryptolink Registration, Forcing 96 Crypto ATMs Offline Across Australia
AUSTRAC suspended Cryptolink's VASP registration for three months, taking 96 ATMs offline nationally. Regulator cited failures to file threshold transaction reports and respond to information requests.
Scope of coverage: some outlets mention scam-linked user data, others omit details.
5 of 7 outlets skipped it: crypto ATMs have a June 2025 A$5,000 cash deposit/withdrawal limit.
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KuCoin
“85% of transactions by 90 prolific users involved suspected scam proceeds.”Read the original ↗
Crypto News Australia
“Cryptolink acknowledged lapses but said it did not condone or support illicit use.”Read the original ↗
Some outlets add scam-proceeds statistics, others stay with compliance mechanics.
Cryptolink ATMs taken offline
Australia’s financial crime regulator AUSTRAC suspended the Virtual Asset Service Provider registration of crypto ATM operator Cryptolink for three months, forcing 96 crypto ATMs offline across Australia.
“AUSTRAC suspended Cryptolink’s registration for three months, taking 96 crypto ATMs out of service across Australia.”
The suspension took effect Aug. 9, and Cryptolink cannot provide virtual asset services while the order remains in place.
AUSTRAC said Cryptolink failed to submit required threshold transaction reports and did not respond to requests for information.
AUSTRAC also cited an earlier enforceable undertaking agreed in October 2025 after the regulator identified late reporting of large cash transactions and weaknesses in Cryptolink’s anti-money laundering and counter-terrorism financing risk assessments.
AUSTRAC CEO: too high risk
AUSTRAC CEO Brendan Thomas said the missing reports and lack of response made the business “too high risk to continue operating at present.” Thomas said AUSTRAC would monitor Cryptolink to ensure it complies with the suspension, adding that the company “could not meet its obligations despite the enforceable undertaking.”
The regulator said Cryptolink initially met the terms of the October 2025 enforceable undertaking, but later failed to submit required threshold transaction reports. AUSTRAC also said it had issued an infringement notice of A$56,340, which Cryptolink paid.
Wider scrutiny and limits
The suspension reflects AUSTRAC’s broader push to tighten oversight of crypto ATMs as cash-to-crypto services are treated as a money-laundering and scam risk. AUSTRAC said its Crypto Taskforce found that 85% of transactions involving the 90 most frequent crypto ATM users were linked to scams or money-mule activity.
“Thomas said AUSTRAC would monitor Cryptolink during the suspension and take action against other crypto ATM businesses where it identifies serious risks or noncompliance.”
In June 2025, AUSTRAC set a 5,000 Australian-dollar limit on cash deposits and withdrawals and required stronger customer checks, scam warnings and transaction monitoring. AUSTRAC said it would continue to keep a close watch on the cryptocurrency sector, particularly businesses operating crypto ATMs, and take action where it identifies serious risks or noncompliance.