AUSTRAC Hits Pause on Australia's Biggest Bitcoin ATM Network 🚫₿

Australia's anti-money laundering watchdog AUSTRAC has suspended the registration of Cryptolink Pty Ltd as a Virtual Asset Service Provider for three months, effective August 9, cutting off the operator's 96 Bitcoin ATMs across the country until November 9, 2026. AUSTRAC CEO Brendan Thomas said the action followed the company's failure to meet "basic reporting obligations, particularly for threshold transaction reports," and its non-response to a request for information from the regulator. "As part of our continued focus on digital currency as a money laundering risk, AUSTRAC has ongoing concerns about the company's ability to manage high-risk transactions through its CATMs," Thomas said.

The suspension comes despite Cryptolink having met an enforceable undertaking with AUSTRAC in October 2025, under which it also paid a $56,340 infringement notice. AUSTRAC's Cryptocurrency Taskforce had previously identified alleged breaches including late transaction reporting and weak risk assessments. Thomas said the operator "met the conditions stipulated in its enforceable undertaking, [but] subsequently failed to meet basic reporting obligations, particularly for threshold transaction reports," adding that AUSTRAC "deemed it too high risk to continue operating at present." Cryptolink runs machines in major Australian cities including Sydney, Melbourne and Brisbane, allowing customers to exchange cash for $BTC.

Australia now hosts the highest number of crypto ATMs in the Asia-Pacific region, with roughly 1,800 machines operating nationally, up from just 23 in 2019. The Australian Federal Police has estimated that about $275 million flows through the country's Bitcoin and crypto ATMs each year. AUSTRAC has been engaging crypto ATM operators since late 2024, and Home Affairs Minister Tony Burke has proposed legislation granting AUSTRAC power to control or prohibit high-risk products including crypto ATMs.

"We will continue to keep a close watch on the cryptocurrency sector, particularly businesses operating crypto ATMs, and will take action where we identify serious risks or non-compliance," Thomas said. Separately, Strategy, the Bitcoin treasury firm led by Michael Saylor, sold 1,690 $BTC for $108.6 million during the week ending August 9, according to company filings.