Australia Shuts Down 96 Crypto ATMs Over Money Laundering Concerns

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has suspended the license of crypto service provider Cryptolink for three months. This move resulted in the shutdown of 96 Bitcoin ATMs operated by the company across Australia during this period.

The regulator cited ongoing concerns about Cryptolink's compliance with anti-money laundering obligations as the reason for the suspension. AUSTRAC pointed to the company's violation of basic reporting rules and failure to provide information upon request.