Bitcoin · Decrypt
Meeting the earlier undertaking and paying the $56,340 fine in October 2025 didn't spare Cryptolink
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AUSTRAC accepted that enforceable undertaking after its Cryptocurrency Taskforce found alleged late reporting and weak risk assessments, and still moved to suspend the company months later.
Key facts
- Australia now hosts the highest number of crypto ATMs in the Asia Pacific region, roughly 1,800 machines, up from 23 in 2019, per AUSTRAC
- Meeting the earlier undertaking and paying the $56,340 fine in October 2025 didn't spare Cryptolink
- The Australian Transaction Reports and Analysis Centre said on Monday it suspended Cryptolink Pty Ltd's registration as a Virtual Asset Service Provider, or VASP, for three months, effective August
- Australia's Home Affairs Minister has proposed giving AUSTRAC power to control or prohibit so-called high-risk products, including crypto ATMs, and AUSTRAC's Crypto Taskforce has been engaging
Summary
AUSTRAC suspended Cryptolink's VASP registration for three months from August 9, shutting its 96 crypto ATMs. The trigger was missed "basic reporting obligations," especially threshold transaction reports, plus ignored information requests. It follows an October 2025 enforceable undertaking and a $56,340 fine the company already paid. Australia's financial-crime regulator AUSTRAC has pulled the plug on the country's largest Bitcoin and crypto ATM network. The Australian Transaction Reports and Analysis Centre said on Monday it suspended Cryptolink Pty Ltd's registration as a Virtual Asset Service Provider, or VASP, for three months, effective August 9, after the company failed to keep up with its anti-money-laundering paperwork.