Australia Regulatory Body Issues Notice To Crypto ATM Providers
Australia’s financial crime regulator has issued a warning to cryptocurrency ATM providers, indicating that many of these machines may be facilitating money laundering or defrauding victims.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) announced on Monday that its cryptocurrency task force, established in December 2024, has detected concerning trends and signs of suspicious activities associated with cryptocurrency ATMs, including connections to scams and fraud.
AUSTRAC CEO Brendan Thomas emphasized the importance of establishing sound operating regulations for cryptocurrency ATM providers to reduce the risk of their machines being used for money laundering or scamming innocent individuals. He stated, “We have…
