Australia’s financial crime watchdog has suspended Cryptolink Pty Ltd for three months, forcing the crypto ATM operator to take 96 machines offline nationwide.

The Australian Transaction Reports and Analysis Centre (AUSTRAC) said the suspension began on Aug. 9. Cryptolink is prohibited from providing virtual asset services while the order remains active.

AUSTRAC said the enforcement action followed Cryptolink’s failure to file required transaction reports and its failure to respond to an information request from the regulator.

Crypto ATMs allow users to purchase digital assets with cash, providing a link between conventional money and cryptocurrency. AUSTRAC said it remains concerned about Cryptolink’s controls for transactions that may present heightened risks of money laundering or terrorism financing.

According to the regulator, Cryptolink initially satisfied the conditions of an enforceable undertaking issued in October 2025. The company later stopped meeting some of those obligations, including submitting threshold transaction reports, and failed to provide information requested by AUSTRAC.

AUSTRAC CEO Brendan Thomas said the company’s compliance failures meant it presented an unacceptable level of risk and could not continue operating for the time being.

The earlier undertaking came after an AUSTRAC Cryptocurrency Taskforce investigation into suspected breaches of anti-money laundering and counter-terrorism financing requirements. The regulator had identified delayed reporting and weaknesses in Cryptolink’s approach to assessing financial crime risks.

Cryptolink was also ordered to pay A$56,340, or approximately $36,600, in penalties. The company has paid the fine.

AUSTRAC Increases Oversight of Crypto ATM Operators

AUSTRAC warned crypto ATM businesses in March 2025 that some operators could be operating without adequate anti-money laundering safeguards.

The regulator introduced additional restrictions in June, including a A$5,000 ceiling on cash deposits and withdrawals through crypto ATMs. Operators were also required to strengthen customer verification procedures, issue scam warnings and improve monitoring of transactions.

Thomas said AUSTRAC will continue assessing Cryptolink during the suspension period and will take action against other crypto ATM operators if it identifies serious compliance failures or significant financial crime concerns.