CoinDesk
AUSTRAC suspended Cryptolink Pty Ltd’s registration for three months from Aug. 9, taking 96 crypto ATMs offline across Australia. Cryptolink cannot provide virtual asset services while the order remains in force. AUSTRAC cited missing threshold transaction reports and the company’s failure to respond to an information request. CEO Brendan Thomas said the failures made the business “too high risk to continue operating at present.”
Why it matters
Crypto ATMs connect cash with digital assets, making transaction reporting, customer checks and monitoring central to anti-money-laundering and counter-terrorism-financing controls. AUSTRAC said it remains concerned about Cryptolink’s ability to manage transactions carrying higher money-laundering or terrorism-financing risks.
The suspension follows an enforceable undertaking imposed in October 2025 after an AUSTRAC Cryptocurrency Taskforce investigation cited late reports and weaknesses in Cryptolink’s risk assessments. Cryptolink also paid an A$56,340 ($36,600) fine.
Market impact
The immediate effect is operational, with 96 machines unavailable and Cryptolink barred from providing virtual asset services. The wider signal is regulatory: in June, AUSTRAC set a A$5,000 limit on cash deposits and withdrawals and required stronger customer checks, scam warnings and transaction monitoring for crypto ATM operators.
AUSTRAC said it will monitor Cryptolink during the suspension and act against other crypto ATM businesses where it identifies serious risks or noncompliance. For the sector, reporting discipline and timely responses to regulator requests are now core tests.
Frequently asked questions
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Why did AUSTRAC suspend Cryptolink’s registration?
AUSTRAC said Cryptolink failed to submit required threshold transaction reports and did not respond to an information request.
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How long will Cryptolink be barred from virtual asset services?
The suspension took effect Aug. 9 and lasts three months. Cryptolink cannot provide virtual asset services while the order remains in force.
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What earlier compliance issues preceded the three-month suspension?
An AUSTRAC Cryptocurrency Taskforce investigation cited late reports and weaknesses in Cryptolink’s risk assessments. The company also paid an A$56,340 ($36,600) fine.
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What new controls did AUSTRAC impose on crypto ATM operators?
AUSTRAC set a A$5,000 limit on cash deposits and withdrawals and required stronger customer checks, scam warnings and transaction monitoring.
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What did AUSTRAC signal to other crypto ATM operators?
AUSTRAC said it will monitor Cryptolink during the suspension and act against other crypto ATM businesses where it identifies serious risks or noncompliance.
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