AUSTRAC Tightens Crypto ATM Rules in Australia, Warning of Penalties

Australia’s crypto ATM landscape is facing increased scrutiny as the Australian Transaction Reports and Analysis Centre (AUSTRAC) launches a crackdown on non-compliant operators. A surge in crypto ATM numbers, up 81% over the past year, has raised concerns about potential money laundering risks. To address these concerns, AUSTRAC has issued warnings to crypto ATM operators, emphasizing the need for adherence to anti-money laundering and counter-terrorism financing regulations or risk facing legal penalties.