Popular ATM suspended after basic reporting

Popular ATM suspended after basic reporting

Mon, August 10, 2026 at 9:08 PM GMT+3 2 min read

• BTC-USD -0.35%

The Australian Transaction Reports and Analysis Centre (Austrac), Australia's anti-money laundering watchdog, suspended the operations of the country's largest crypto ATM operator for three months on Aug. 10.

A crypto ATM is a physical kiosk that allows users to buy or sell cryptocurrencies like Bitcoin (BTC) using cash or a debit card. Unlike traditional bank ATMs that connect to a user's bank account, these kiosks connect directly to a crypto exchange or wallet over the internet.

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Regulator says Cryptolink failed to meet basic reporting requirements

Austrac said that Cryptolink failed to meet basic reporting requirements, such as threshold transaction reports, and didn't respond to the regulator's requests for information.

Therefore, the regulator was forced to suspend the company's ATM operations for three months due to "ongoing concerns" over its compliance with anti-money laundering and counter-terrorism financing (AML/CTF) norms.

Cryptolink ran 96 crypto ATMs across Australia, but the network has been temporarily shut down beginning Aug. 10 after Austrac's order to suspend its Virtual Asset Service Provider (VASP) registration to operate the kiosks in Australia.

Austrac chief executive Brendan Thomas said, "Austrac has ongoing concerns about the company's ability to manage high-risk transactions through its CATMs."

Though the crypto company had previously agreed to an enforceable undertaking aimed at lifting its compliance standards, it still fell short on basic obligations, Thomas added.

In October 2025, Cryptolink was fined $56,340, while Austrac accepted an enforceable undertaking from the crypto company.

"Cryptolink was given the opportunity to comply but could not meet its obligations despite the enforceable undertaking," he added.

Austrac said the crypto sector will remain under close scrutiny as ATMs continue to expand across the country.

TheStreet Roundtable reached out to Cryptolink for a comment and did not receive a response by the time of publishing this report. We will update the story as soon as we have it.

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This story was originally published by TheStreet on Aug 10, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.