Australian watchdog suspends Cryptolink, forcing 96 ATMs offline
The regulator cited missing transaction reports and the company’s failure to respond to an information request.
The Australian financial crime watchdog, AUSTRAC, has suspended crypto ATM operator Cryptolink Pty Ltd for three months, resulting in the shutdown of 96 machines nationwide. AUSTRAC imposed this suspension on August 9, preventing Cryptolink from providing virtual asset services during the period. The regulator expressed concerns about Cryptolink's capacity to handle transactions that may pose a higher risk of money laundering or terrorism financing.
Initially, Cryptolink had complied with an enforceable undertaking issued in October 2025, but subsequently failed to submit necessary threshold transaction reports and did not respond to AUSTRAC's information request. These lapses led AUSTRAC's CEO, Brendan Thomas, to deem the company "too high risk to continue operating at present."
The previous undertaking stemmed from an AUSTRAC investigation into alleged breaches of anti-money laundering and counter-terrorism financing rules, which cited delayed transaction reports and deficiencies in Cryptolink's risk assessments. In March 2025, AUSTRAC had previously warned crypto ATM operators about potential lack of adequate anti-money laundering controls.
Subsequently, the regulator capped cash deposits and withdrawals at 5,000 Australian dollars and mandated stronger customer checks, scam warnings, and enhanced transaction monitoring. AUSTRAC intends to monitor Cryptolink throughout the suspension and will take further action against other crypto ATM businesses if serious risks or non-compliance are detected.
Written by urgent.news from CoinDesk's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
