Australia's financial intelligence agency suspended Cryptolink's registration for three months on Sunday, forcing the operator's 96 crypto ATMs across the country offline. AUSTRAC cited ongoing concerns about the company's anti-money laundering and counter-terrorism financing compliance, saying it failed to meet basic reporting obligations.
Why AUSTRAC moved
AUSTRAC CEO Brendan Thomas said Cryptolink didn't submit required reports and didn't respond to the agency's request for information. The suspension, which began Sunday, effectively shuts down every Cryptolink ATM in the country for the next three months.
The October findings
This isn't the first time the regulator has flagged problems. In October 2025, AUSTRAC identified late reporting of large cash transactions and weaknesses in Cryptolink's money-laundering and terrorism-financing risk assessments. The agency accepted an enforceable undertaking and issued a $56,340 infringement notice at the time.
What Cryptolink says
Cryptolink acknowledged the delayed threshold transaction reports. The company said it was strengthening its systems, conducting independent reviews, improving transaction monitoring, and updating its risk assessments.
A wider ATM crackdown
The action against Cryptolink fits a broader pattern. Missouri sued CoinFlip in May. Indiana, Tennessee, and Minnesota have banned crypto ATM kiosks outright. Canada has proposed a nationwide ban, and the UK's Financial Conduct Authority ordered crypto ATM operators to shut down back in 2022.
The three-month suspension gives Cryptolink time to address the compliance gaps. Whether it can satisfy AUSTRAC before the clock runs out is the open question.
