Australia’s Regulator Cracks Down on Cryptocurrency ATMs
The national financial intelligence agency of Australia has announced its priority for the upcoming year to focus on the cryptocurrency industry. To achieve this goal, a new task force has been formed to crack down on crypto ATM providers who may not be complying with Anti-Money Laundering laws.
According to AUSTRAC CEO Brendan Thomas, cryptocurrency and crypto ATMs can be used by criminals to launder money because of their accessibility and immediacy of transfers.
As such, AUSTRAC will be working to reduce the criminal use of cryptocurrency in Australia and ensure that crypto ATM operators meet minimum standards to prevent illicit cash flow.
Coinflip, Localcoin, and Cryptolink are the leading crypto ATM providers in Australia, and they are already required to register with AUSTRAC, monitor transactions, and obtain Know Your Customer information from users.
Bitcoin 
Ethereum 
XRP 
Tether 
Solana 
BNB 
Dogecoin 
USDC 
Cardano 
Lido Staked Ether 