Earthquake in the crypto market: about a hundred ATMs for digital assets have been confiscated
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has suspended the registration of Cryptolink as a virtual asset service provider and ordered the shutdown of the company's machines for three months.
Drama in Australia: 96 crypto ATMs have been shut down due to failures in preventing money laundering. The Australian Transaction Reports and Analysis Centre (AUSTRAC) has suspended the registration of Cryptolink as a virtual asset service provider and ordered the shutdown of the company's 96 digital currency ATM machines (CATMs) for three months, until the beginning of November.
The decision, made on August 10, follows ongoing concerns regarding money laundering and terrorism financing risks. According to AUSTRAC CEO Brendan Thomas, the company failed to manage high-risk transactions and did not meet basic reporting obligations. He stated that the company did not report threshold transactions, avoided filing required reports, and did not respond to requests for information.
Additionally, in October 2025, enforcement action was taken against the company due to late reporting of large cash transactions and weaknesses in risk assessment. Cryptolink paid a fine of 56,340 Australian dollars (about 39,000 US dollars), but failed again despite a previous enforcement undertaking.
Global trend: The hunt for crypto kiosks
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USA (federal level): Legislation proposed since June promotes transaction limits, fraud warnings, and customer due diligence, after reported fraud losses in the country exceeded the 333 million dollar threshold in 2025.
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Missouri (USA): A lawsuit was filed against kiosk operator Coinflip (which includes over 140 machines) for fraud deficiencies and the disclosure of excessive fees that reached up to 21.9%. Coinflip, for its part, rejects the claims and is engaged in a legal battle.
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Tennessee (USA): A sweeping ban on crypto kiosks was implemented across the state. A federal court rejected the request by Coinflip and another operator to block the law, and the ban went into effect on July 1.
AUSTRAC clarified that close monitoring of Cryptolink will continue throughout the suspension period to ensure it does not operate in violation of the order.
