AUSTRAC pulls Cryptolink's BTC plug for 90 days over paper trail problems

Australia's anti-money laundering watchdog AUSTRAC has suspended the registration of crypto ATM operator Cryptolink for three months, forcing all of its Bitcoin ATMs offline starting Sunday. The action targets the company's compliance with anti-money laundering obligations, including what AUSTRAC described as "basic reporting" failures tied to threshold transaction reports.

AUSTRAC CEO Brendan Thomas said the regulator has "ongoing concerns about the company's ability to manage high-risk transactions through its CATMs." Cryptolink, he added, failed to meet basic reporting requirements and did not respond to AUSTRAC's request for information. The three-month suspension of its Virtual Asset Service Provider registration removes Cryptolink's ability to operate crypto ATMs during the period.

The enforcement follows an enforceable undertaking Cryptolink entered into with AUSTRAC in October 2025, after the regulator's Cryptocurrency Taskforce identified alleged breaches including late transaction reporting and shortcomings in the company's risk assessments. AUSTRAC also issued a $56,340 infringement notice, which Cryptolink paid. Australia has the highest number of crypto ATMs of all countries in the Asia-Pacific region, and authorities have been increasing scrutiny of criminal use of the machines since at least late 2024.

Cryptolink operates 96 ATMs across Australia, allowing customers to exchange cash for Bitcoin ($BTC), with most locations concentrated in Sydney, Melbourne and Brisbane. The suspension runs for three months from the start of Sunday.