Australia's AUSTRAC Fines Cryptolink as Part of Crypto ATM Crackdown
Analysis
Price Impact
MedThe fine itself is small and against a single operator, but it signals increased regulatory scrutiny and enforcement by austrac on crypto atms and aml/ctf compliance. this could lead to stricter operating conditions for crypto businesses in australia.
Trustworthiness
HighThe information is a direct report from coindesk about an official action taken by austrac, a government regulatory body.
Price Direction
BearishWhile not directly targeting specific cryptocurrencies, increased regulatory pressure on entry/exit points like crypto atms due to aml/ctf concerns can create fud (fear, uncertainty, doubt) within the local market. it may deter some retail users and reduce liquidity or accessibility in australia, which is generally bearish for overall market sentiment in that region.
Time Effect
LongThe immediate fine is a short-term event, but it's part of a broader crackdown and proposed new powers for austrac, indicating a sustained regulatory trend that will likely have a longer-term impact on the crypto atm sector and potentially the wider crypto market in australia.
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Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Australia's AUSTRAC Fines Cryptolink as Part of Crypto ATM Crackdown AUSTRAC has fined Cryptolink 56,340 Australian dollars ($37,000) after identifying "weaknesses" in the company's AML/CTF compliance. By Jamie Crawley | Edited by Oliver Knight Updated Oct 30, 2025, 11:02 a.m. Published Oct 30, 2025, 11:02 a.m. AUSTRAC has fined Cryptolink 56,340 Australian dollars ($37,000) after identifying "weaknesses" in the company's AML/CTF compliance (Squirrel/Pixabay, modified by CoinDesk) What to know : AUSTRAC has fined Cryptolink 56,340 Australian dollars ($37,000) after identifying "weaknesses" in the company's AML/CTF compliance. Australia's AML/CTF watchdog said it identified late reporting of large cash transactions. The enforcement actions follows only weeks after Australia's government proposed granting new powers to AUSTRAC to help clamp down money laundering through crypto ATMs. The Australian Transaction Reports and Analysis Centre (AUSTRAC) is taking enforcement action against a crypto ATM provider as it seeks to flex its regulatory muscle on the sector. AUSTRAC has fined Cryptolink 56,340 Australian dollars ($37,000) after identifying "weaknesses" in the company's anti-money laundering and counter terrorism financing (AML/CTF) compliance, according to a statement on Thursday . STORY CONTINUES BELOW Don't miss another story. Subscribe to the State of Crypto Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . Australia's AML/CTF watchdog said it identified late reporting of large cash transactions, for which it has imposed an enforceable undertaking "designed to ensure useable intelligence does not slip through the cracks." Cryptolink must now enlist third-party auditors to validate that it has reported all required transactions to AUSTRAC, assess whether it has implemented effective controls for large cash transactions and ensure its AML/CTF processes are fit for purpose. The enforcement actions comes only weeks after Australia's government proposed granting new powers to AUSTRAC to help clamp down on illicit activity through crypto ATMs. AUSTRAC's Crypto Taskforce said it has estimated that 85% of ATM transactions made by the 90 most prolific users were the proceeds of scams and other nefarious acts. Crypto ATMs allow the buying of cryptocurrency by inserting cash or a bank card and having crypto delivered to a designated wallet. They are often used for criminal activity by scammers directing their victim to deposit funds to a specific wallet to pay for some goods and then disappearing, for example. There are 2,024 such terminals in Australia, according to data provided by Coin ATM Radar . This is a slight dip from around 2,100 earlier this month when news of AUSTRAC's new powers were reported, suggesting they may already be having the desired effect. Australia Austrac Crypto ATMs Bitcoin ATMs More For You OwlTing: Stablecoin Infrastructure for the Future By CoinDesk Research Oct 16, 2025 Commissioned by OwlTing Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent. 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