Australia Targets Crypto ATMs in New Crackdown on Money Laundering and Scams
- Australia’s Home Affairs Minister announced plans to restrict or ban crypto ATMs, labeling them a “high-risk product” tied to money laundering and scams.
- The measure is part of a broader package to expand federal powers, which would grant AUSTRAC’s CEO the authority to prohibit designated high-risk products like crypto ATMs.
- The government is targeting crypto ATMs due to their link to money laundering and untraceability.
Australia’s Home Affairs Minister Tony Burke said Wednesday the government will move to restrict or ban crypto ATMs, labeling them a “high-risk product” tied to money laundering, scams, and child exploitation.
The measure sits inside a broader package expanding federal powers…
