Overview
- AUSTRAC suspended Cryptolink’s VASP registration for three months, a move that took the company’s 96 crypto ATMs out of service starting August 9, 2026.
- The regulator said Cryptolink repeatedly failed to submit threshold transaction reports, which are mandatory filings for cash transactions at or above A$10,000 to help detect money laundering.
- Cryptolink had already faced enforcement in October 2025 when it paid a A$56,340 infringement notice and accepted an enforceable undertaking for late reporting and weak risk assessments.
- AUSTRAC also cited the company’s failure to answer a formal information request as a key factor in the decision and said it will monitor compliance and act against other operators that pose similar risks.
- The suspension underscores growing concern about Australia’s rapid crypto ATM expansion and the link regulators draw between cash-to-crypto machines and scams, money-mule activity, and large cash flows that can harm older and vulnerable consumers.