The activities of Cryptolink’s Bitcoin ATMs have been banned for three months by Australia’s financial intelligence agency, AUSTRAC, due to persistent concerns over the company’s adherence to anti-money laundering regulations.
Cryptolink’s Virtual Asset Service Provider license has been suspended for three months, starting on Sunday, according to AUSTRAC CEO Brendan Thomas. The network of cryptocurrency ATMs owned by Cryptolink will thus be unavailable during this time.
Cryptolink was accused by AUSTRAC, formerly known as the Australian Transaction Reports and Analysis Center, of violating routine reporting obligations, including appropriate threshold transaction reports. According to the agency, Cryptolink also failed to deliver the desired data in a timely manner.
The suspension comes after Cryptolink signed an enforceable commitment in October 2025 following the discovery of many alleged violations by AUSTRAC’s Cryptocurrency Taskforce. These included shortcomings in the organization’s risk assessment procedures and past-due transaction report filing.
At the moment, Australia has more cryptocurrency ATMs than any other country in the Asia-Pacific area. Australian law enforcement and authorities have stepped up their efforts in recent months to combat the use of cryptocurrency ATMs for illicit purposes, giving strict adherence to anti-money laundering regulations first priority.
In response to the threats of both local and international financial crime, authorities started stepping up their monitoring and enforcement actions concerning the illicit use of cryptocurrency ATMs in late 2024.
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