AUSTRAC Suspends Cryptolink Registration Over AML Compliance Concerns
Australia's financial regulator, AUSTRAC, has suspended the registration of Cryptolink for three months due to ongoing concerns about its anti-money laundering and counter-terrorism financing compliance.
The suspension began on August 9, forcing the company's 96 cryptocurrency ATMs across Australia offline. CEO Brendan Thomas stated that the regulator remains concerned about how Cryptolink manages high-risk transactions through its machines.
This is not the first time AUSTRAC has taken action against Cryptolink. In October 2025, the regulator identified late reporting of large cash transactions and weaknesses in the company's money-laundering and terrorism-financing risk assessments. As a result, Cryptolink received an enforceable undertaking and was issued a $56,340 infringement notice.
AUSTRAC will continue to monitor the cryptocurrency sector, particularly businesses operating crypto ATMs, and will take action where it identifies serious risks or non-compliance.