Australia suspends Cryptolink’s registration over reporting failures

Australia’s financial intelligence agency has pulled the plug on one of the country’s crypto ATM operators, suspending Cryptolink Pty Ltd’s registration as a Virtual Asset Service Provider for three months. The suspension, effective August 9, forces all 96 of Cryptolink’s cryptocurrency ATMs across Australia to go dark. AUSTRAC, the country’s anti-money laundering watchdog, made the call after the Queensland-based company repeatedly failed to submit required threshold transaction reports and ignored requests for information. A pattern that regulators stopped tolerating Cryptolink’s troubles started becoming public on October 30, 2025, when AUSTRAC hit the company with a $56,340 infringement notice. The fine stemmed from late reporting of large cash transactions and weaknesses in the company’s AML/CTF risk assessments. After paying the fine and entering into an enforceable undertaking, a formal agreement to fix its compliance gaps, Cryptolink apparently didn’t follow through. The company continued to miss mandatory threshold transaction reports and failed to adequately respond when AUSTRAC came knocking for information. Threshold transaction reports are triggered when a customer con...