A significant penalty of $37,000 has been imposed on Cryptolink, an Australian crypto ATM provider, for failing to meet its anti-money laundering (AML) and counter-terrorism financing (CTF) obligations. This action underscores the growing importance of robust regulations within the cryptocurrency sector. The Australian Transaction Reports and Analysis Centre (AUSTRAC), responsible for financial intelligence and compliance, issued the penalty after Cryptolink was found to have not registered with them properly, nor had adequate AML/CTF programs in place to mitigate potential risks related to illicit financial activities. This regulatory action comes as a clear reminder of the critical role of compliance within the rapidly evolving crypto ATM market. 2,100 crypto ATMs operate across Australia, and this fine highlights the need for all operators to prioritize compliance and ensure they have robust systems in place.