AUSTRAC suspends Cryptolink VASP; 96 Bitcoin ATMs offline
AUSTRAC suspended Cryptolink’s VASP registration for three months, taking 96 Bitcoin ATMs offline after finding failures in threshold transaction reporting and unresponsiveness.
Australia’s anti-money laundering regulator AUSTRAC has suspended Cryptolink’s Virtual Asset Service Provider registration for three months, starting Sunday, and ordered the operator’s 96 Bitcoin ATMs offline while the registration is inactive.
AUSTRAC said it found Cryptolink failed to meet basic reporting requirements, particularly for threshold transaction reports, and did not respond to AUSTRAC’s requests for information. The suspension prevents Cryptolink from offering regulated virtual asset services while the matter is reviewed.
The action follows an enforceable undertaking Cryptolink entered into with AUSTRAC in October 2025 after the regulator’s Cryptocurrency Taskforce identified late transaction reporting and gaps in the company’s risk assessments. AUSTRAC issued an infringement notice of A$56,340 at that time, which Cryptolink paid.
Cryptolink operates 96 cash-for-Bitcoin kiosks across Australia, with most locations in Sydney, Melbourne and Brisbane. While the registration is suspended, those machines must remain offline and cannot accept or process transactions that would trigger AUSTRAC reporting obligations.
AUSTRAC has increased scrutiny of crypto ATMs since late 2024, citing the risk that cash-to-crypto kiosks can be used for money laundering if operators do not file timely reports and maintain adequate risk controls. Australia has the largest number of crypto ATMs in the Asia-Pacific region.
AUSTRAC chief Brendan Thomas commented on the action Monday: “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.”
Cryptolink has not issued a public comment on the suspension.
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