Australia’s financial intelligence agency AUSTRAC has suspended Cryptolink’s registration for three months, forcing the operator’s 96 Bitcoin ATMs offline from Aug. 9. The regulator said the action followed failures in transaction reporting and continuing concerns about the company’s ability to handle higher-risk activity through its machines.
The suspension marks another step in Australia’s wider tightening of oversight for crypto ATMs, a sector authorities have increasingly linked to scams, fraud and money laundering risks as the number of machines has grown.
Suspension takes effect from Aug. 9
AUSTRAC’s order prevents Cryptolink from operating the virtual asset services covered by its registration during the three-month suspension period. In practical terms, that means the company’s Australian Bitcoin ATM network cannot operate while the order is in force.
Cryptolink runs 96 machines that let customers exchange cash for Bitcoin. Most of the ATMs are located in major Australian cities, including Sydney, Melbourne and Brisbane.
Regulator cites reporting failures and unanswered request
In setting out the reasons for the suspension, AUSTRAC said Cryptolink failed to meet basic compliance obligations. The regulator specifically pointed to failures involving threshold transaction reports, which are part of the reporting framework applied to the sector.
AUSTRAC also said the company did not respond to an information request from the agency. Alongside those issues, the regulator said it continues to have concerns about Cryptolink’s capacity to manage high-risk transactions through its crypto ATMs.
AUSTRAC CEO Brendan Thomas said the agency’s concerns sit within its broader focus on digital currency as a money laundering risk.
Action follows earlier compliance intervention
The latest suspension follows an enforceable undertaking that AUSTRAC imposed on Cryptolink in October 2025. That earlier step related to separate compliance failures identified by the regulator’s Cryptocurrency Taskforce.
Cryptolink had also previously paid an A$56,340 penalty over alleged reporting and risk assessment failures, according to the source report. The new suspension adds to the company’s regulatory problems by stopping operations rather than imposing only financial consequences.
Part of a broader crackdown on crypto ATMs
Australian authorities have been increasing scrutiny of crypto ATM operators as the market expands. Regulators have linked the machines to scams, fraud, money laundering and other criminal activity, prompting tighter controls across the sector.
Measures introduced in response have included stronger customer due diligence, higher limits around cash transactions, and enhanced reporting requirements for crypto ATM businesses. Cryptolink’s suspension fits into that broader enforcement push, with the next confirmed step being a three-month halt to its ATM operations starting Aug. 9.
Source: crypto.news