Cryptolink can no longer operate its 96 crypto ATMs in Australia after AUSTRAC suspended the company’s registration.
The three-month suspension took effect on 9 August amid ongoing concerns about its compliance with anti-money laundering and counter-terrorism financing requirements.
AUSTRAC CEO Brendan Thomas said,
“As part of our continued focus on digital currency as a money laundering risk, AUSTRAC has ongoing concerns about the company’s ability to manage high-risk transactions through its CATMs. While Cryptolink met the conditions stipulated in its enforceable undertaking, it subsequently failed to meet basic reporting obligations, particularly for threshold transaction reports.
The company failed to submit these required reports or respond to AUSTRAC’s request for information, thus we’ve deemed it too high risk to continue operating at present.”
AUSTRAC accepted an enforceable undertaking from Cryptolink in October 2025 after its Cryptocurrency Taskforce identified alleged breaches of anti-money laundering laws.
These included late threshold transaction reporting and weaknesses in the company’s AML/CTF risk assessments.
The regulator also issued Cryptolink an A$56,340 infringement notice, which the company paid.
AUSTRAC will monitor Cryptolink during the suspension and warned that it would continue taking action against serious risks or non-compliance in the crypto ATM sector.
Featured image: Edited by Fintech News Australia, based on image by toia via Magnific
