AUSTRAC Suspends Cryptolink and Orders 96 Crypto ATMs Offline in Australia

Highlights:

• AUSTRAC suspended Cryptolink for three months and ordered its 96 crypto ATMs across Australia to stop operating.
• The regulator cited reporting failures and ongoing concerns about high-risk transactions moving through Cryptolink’s crypto ATM network.
• AUSTRAC previously fined Cryptolink and is increasing oversight of crypto ATMs over money laundering and scam risks.

Australia’s financial crime regulator has suspended Cryptolink Pty Ltd and ordered the company to stop operating its 96 crypto ATMs across the country. The action follows ongoing concerns about the company’s compliance with Australia’s anti-money laundering and counter-terrorism financing rules.

The Australian Transaction Reports and Analysis Centre (AUSTRAC) announced the decision on August 10. Cryptolink’s registration as a Virtual Asset Service Provider (VASP) was suspended for three months starting Sunday, August 9. During the suspension, the company cannot operate its cryptocurrency ATMs.

Cryptolink operates crypto ATMs that allow customers to exchange cash for cryptocurrency. However, AUSTRAC has raised concerns about the risks linked to high-value transactions moving through these machines.

🚨 JUST IN: 🇦🇺Australia orders all 96 Cryptolink Bitcoin ATMs OFFLINE for 3 months over anti-money laundering failures.

AUSTRAC says the company missed basic transaction reporting requirements and ignored requests for info.

Comes after Cryptolink already paid a $56,340 fine in… pic.twitter.com/hiNB6Pmlbm

— CoinMarginalX (@CoinMarginalX) August 10, 2026

AUSTRAC Raises Concerns Over Cryptolink Reporting

AUSTRAC CEO Brendan Thomas said the regulator remains concerned about Cryptolink’s ability to manage high-risk transactions through its crypto ATM network. The company had previously agreed to improve its compliance systems under an enforceable undertaking. According to AUSTRAC, Cryptolink met the conditions included in that agreement but later failed to meet basic reporting requirements.

The regulator pointed specifically to problems with threshold transaction reports. Cryptolink also failed to provide required reports and did not respond to an AUSTRAC request for information. As a result, AUSTRAC determined that the company was “too high risk to continue operating at present.” AUSTRAC said it will continue monitoring Cryptolink during the three-month suspension to make sure the company follows the order.

Cryptolink Faced AUSTRAC Action in 2025

The latest suspension follows earlier regulatory action against Cryptolink. On October 30 last year, AUSTRAC issued the company a $56,340 infringement notice and accepted a court-enforceable undertaking aimed at fixing weaknesses in its anti-money laundering and counter-terrorism financing controls. Cryptolink paid the infringement notice.

At the time, AUSTRAC’s Crypto Taskforce identified late reporting of large cash transactions and weaknesses in Cryptolink’s money laundering and terrorism financing risk assessment. The company was also required to use third-party reviewers to check its transaction reporting and controls. However, AUSTRAC said on August 10 that Cryptolink later failed to meet required reporting obligations despite the earlier enforcement action.

Australia Increases Oversight of Crypto ATMs

AUSTRAC has increased its focus on cryptocurrency ATMs as part of a wider effort to reduce money laundering and scam-related activity involving digital assets. The regulator established its Crypto Taskforce and began closer engagement with crypto ATM operators nearly two years ago. AUSTRAC previously said its analysis found that 85% of transactions involving the 90 most active crypto ATM users were linked to scam proceeds and money mule activity.

Thomas said AUSTRAC will continue watching the cryptocurrency sector closely, particularly businesses operating crypto ATMs. The regulator has warned that it will take further action when operators fail to meet Australia’s AML/CTF requirements.