In a major development, Australia’s financial crimes regulator has knocked the country’s biggest crypto ATM operator offline, suspending Cryptolink Pty Ltd’s registration for three months in the wake of concerns over anti-money laundering compliance. The suspension took effect on August 9 and immediately grounded all 96 of Cryptolink’s machines scattered across the country.
Cryptolink operates as a Virtual Asset Service Provider, running a network of cash-to-crypto kiosks that let customers convert physical currency into Bitcoin and other digital assets instantly.
Brendan Thomas, Australian Transaction Reports and Analysis Centre (AUSTRAC’s) chief executive, said the decision reflects ongoing worries about the company’s grip on high-risk transactions flowing through its machines.
According to the regulator, Cryptolink came up short on several core obligations, most notably its failure to file required threshold transaction reports on time.The company also allegedly ignored AUSTRAC’s follow-up request for additional information about its compliance practices. Regulators were left without a clear picture of whether the machines were actually screening for illicit financial activity.
This isn’t the first time AUSTRAC has come knocking on Cryptolink’s door. Cryptolink signed an enforceable undertaking with the regulator back in October 2025, following an investigation by the agency’s dedicated Crypto Taskforce. The probe had flagged a string of alleged issues, including transaction reports filed late and significant gaps in the company’s risk assessment procedures. AUSTRAC also hit the company with a $56,340 infringement notice around the same time, which Cryptolink ultimately paid.
The broader context here involves a regulator that has been sharpening its focus on crypto ATMs for several years running. AUSTRAC stood up a dedicated Crypto Taskforce in late 2024, specifically tasked with overseeing cryptocurrency ATM operators nationwide.
