AUSTRAC Shuts Down Cryptolink's 96 Crypto ATMs Amid AML Concerns

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has taken action against Cryptolink, suspending its registration for three months.

This move forces all 96 of the company's cryptocurrency ATMs in Australia to shut down indefinitely.

AUSTRAC cited ongoing concerns over Cryptolink's anti-money laundering and counter-terrorism financing compliance.

Cryptolink's CEO, Brendan Thomas, acknowledged the company's failure to meet basic reporting obligations and respond to AUSTRAC's requests for information.