AUSTRAC orders CryptoLink Bitcoin ATMs offline
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- AUSTRAC ordered CryptoLink to shut down its Bitcoin ATMs over reporting failures.
- The regulator said the company failed to meet basic anti-money laundering reporting rules.
- The move is part of AUSTRAC’s wider review of crypto ATM compliance.
AUSTRAC ordered CryptoLink to shut down its Bitcoin (CRYPTO:BTC) ATMs over reporting failures.
The regulator said the company failed to meet basic anti-money laundering reporting requirements.
AUSTRAC said the failures involved compliance rules for digital currency businesses.
The regulator said Bitcoin ATM operators must identify customers and report suspicious transactions.
AUSTRAC has increased its focus on crypto ATM operators across Australia.
The regulator said weak reporting can increase the risk of fraud and financial crime.
AUSTRAC said it will continue monitoring crypto businesses and enforcing reporting rules.
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