Australian watchdog suspends Cryptolink, forcing 96 ATMs offline
Australian regulator AUSTRAC has suspended the operations of Cryptolink, forcing 96 crypto ATMs offline due to failures in anti-money laundering and counter-terrorism financing compliance. The company failed to submit required transaction reports and ignored information requests from the watchdog.
Why it matters
This action signals a tightening regulatory environment for cryptocurrency infrastructure providers globally as authorities prioritize financial crime prevention.
The Australian Transaction Reports and Analysis Centre, known as AUSTRAC, said the suspension took effect Aug. 9. Cryptolink cannot provide virtual asset services while the order remains in place.
Crypto ATMs allow customers to use cash to buy cryptocurrency, serving as a bridge between fiat currency and crypto. AUSTRAC said it remains concerned about Cryptolink’s ability to manage transactions that carry a higher risk of money laundering or terrorism financing.
The regulator said Cryptolink initially met the terms of an enforceable undertaking imposed in October 2025. The company later failed to submit required threshold transaction reports and did not respond to an AUSTRAC information request.
AUSTRAC CEO Brendan Thomas said those failures made the business “too high risk to continue operating at present.”
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