Australia gives enforcers authority to limit crypto ATM services
Australia’s Home Affairs Minister, Tony Burke, announced new legislation granting the country’s financial crimes agency AUSTRAC expanded powers to regulate or restrict the operation of crypto ATMs. The law, introduced on Thursday, allows AUSTRAC to limit or ban financial products and services deemed high-risk for money laundering or fraud.
According to the ministry, the changes are part of a broader effort to update Australia’s anti–money laundering and counter–terrorism financing framework. The new authority specifically covers cash-to-crypto conversion points such as ATMs, which have grown rapidly across the country. Australia currently hosts around 2,000 machines, placing it among the world’s leading jurisdictions in terms of ATM availability.
AUSTRAC said it has identified a high rate of suspicious transactions involving crypto ATMs. Internal data showed that 85% of transactions by top users were linked to scam victims or money mule accounts. The agency described the new powers as necessary to prevent unregulated transfers of large amounts of cash into crypto assets.
AUSTRAC said it has identified a high rate of suspicious transactions involving crypto ATMs. Internal data showed that 85% of transactions by top users were linked to scam victims or money mule accounts. The agency described the new powers as necessary to prevent unregulated transfers of large amounts of cash into crypto assets.
The Home Affairs Ministry confirmed that the reforms would also allow AUSTRAC to access visa and immigration data during investigations. Financial institutions will be able to verify the visa status of customers flagged for suspicious activity, a measure aimed at stopping overseas student and visitor accounts from being misused for laundering funds.
The announcement follows a growing number of reported scams involving crypto ATMs, with several cases targeting seniors. Recent investigations found that victims were instructed to deposit cash into ATMs under the guise of paying fines, taxes, or urgent debts, resulting in irreversible crypto transfers.
Australia’s updated policy aligns with a global increase in scrutiny of crypto ATM networks. Authorities in the United States, the United Kingdom, and Canada have also tightened regulations on cash-to-crypto conversions amid concerns about fraud and illicit finance.
The announcement follows a growing number of reported scams involving crypto ATMs, with several cases targeting seniors. Recent investigations found that victims were instructed to deposit cash into ATMs under the guise of paying fines, taxes, or urgent debts, resulting in irreversible crypto transfers.
Australia’s updated policy aligns with a global increase in scrutiny of crypto ATM networks. Authorities in the United States, the United Kingdom, and Canada have also tightened regulations on cash-to-crypto conversions amid concerns about fraud and illicit finance.
Author
Sebile Fane cut her teeth in blockchain by building tiny NFT experiments with friends in her living room, long before the buzzwords took hold. She’s driven by a curiosity for the human stories behind smart contracts — whether it’s a small-town artist minting her first token or a DAO voting on climate grants — and weaves technical insight with genuine empathy.
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