AUSTRAC Fines Cryptolink for AML Breaches, Signaling Tightening Rules on Crypto ATMs

The Australian financial intelligence agency, AUSTRAC, has fined crypto ATM operator Cryptolink AUD 56,340 ($37,000) after discovering compliance issues related to anti-money laundering and counter-terrorism financing (AML/CTF) obligations. This penalty underscores Australia’s ongoing efforts to combat illicit activities in the cryptocurrency sector and comes amid a crackdown on crypto ATMs. A new phase of tighter oversight for digital assets is underway. ]