AUSTRAC Suspends 96 Crypto ATMs for Three Months

Woofun AI reports that the Australian Transaction Reports and Analysis Centre (AUSTRAC) has enforced a three-month operational suspension on Cryptolink, a Sydney-based digital currency exchange, citing systemic compliance failures.

The enforcement scope encompasses 96 cryptocurrency ATMs, marking a significant escalation in regulatory pressure against cash-based crypto infrastructure in Australia. This action targets the specific network operated by the Sydney-based entity, distinguishing it from broader industry-wide advisories.

This suspension follows a precedent set in October 2025, when Cryptolink paid a fine of A$56,340 (approximately $36,000) for alleged violations of the Anti-Money Laundering and Counter-Terrorism Financing Act. At that time, the company committed to implementing corrective measures, yet the subsequent enforcement indicates those measures were deemed insufficient by regulators.

Structurally, the core violations involved the failure to file legally required reports on large cash transactions and the refusal to respond to authorities' requests for additional information. These specific omissions by Cryptolink triggered the regulator's decision to move beyond financial penalties toward operational suspension.

Per Woofun AI, the regulatory framework mandates that operators register with AUSTRAC, implement robust customer identification procedures, and report cash transactions exceeding A$10,000. Failure to adhere to these standards, which align with those for traditional financial institutions, can result in fines, suspension, or even deregistration.

The 96 ATMs across Australia will remain offline for three months, disrupting services for users relying on these terminals. This incident underscores the critical nature of AML/CTF obligations and reflects a global trend of tightening oversight on cryptocurrency businesses handling cash transactions.