AUSTRAC said August 10 that it suspended Cryptolink Pty Ltd’s Virtual Asset Service Provider registration for three months starting August 9, forcing the company to shut down 96 cryptocurrency ATMs across Australia. The regulator said ongoing compliance concerns made Cryptolink too high risk to continue operating, putting basic AML/CTF reporting failures at the center of the suspension.
AUSTRAC said Cryptolink had previously satisfied conditions under an enforceable undertaking accepted in October 2025, but later failed to submit required threshold transaction reports or respond to a request for information. The earlier action followed alleged anti-money-laundering breaches and included a $56,340 infringement notice, making repeated reporting weaknesses more consequential than the company’s earlier remediation efforts.
The suspension is temporary rather than a permanent ban, and AUSTRAC said it will monitor Cryptolink to ensure compliance while the registration remains inactive. The regulator has intensified supervision of crypto ATM operators since late 2024, leaving the company’s ability to restore compliant operations after the three-month period as the immediate test.
Source: AUSTRAC.
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