Cryptolink's Bitcoin ATMs Suspended for Three Months Over Compliance Concerns

Australia's financial intelligence agency, AUSTRAC, has suspended Cryptolink's 96 Bitcoin ATMs for three months due to compliance concerns.

The suspension is a result of failures in transaction reporting and ongoing concerns about the company's handling of high-risk activity.

Cryptolink had previously paid a A$56,340 penalty after alleged reporting and risk assessment failures.

Australia has tightened controls on crypto ATMs in recent years, with authorities linking some activity to scams, money laundering, and illicit drug transactions.