Overview
- Proposed amendments would let AUSTRAC restrict or prohibit high‑risk products, explicitly including crypto ATMs.
- Officials have not announced a national ban, with detailed provisions to be released when legislation is introduced.
- AUSTRAC reports about 85% of transactions by top users involve scams or money‑mule activity, with roughly 99% of ATM use in cash deposits.
- Australia hosts roughly 1,800–2,100 machines, placing it third globally for crypto ATM numbers after rapid growth in recent years.
- Earlier measures include a A$5,000 cash cap per transaction, stricter due‑diligence rules, a crypto taskforce, and at least one operator losing registration.