Aussie Financial Watchdog Imposes New Restrictions on Crypto ATM Operators
Australia’s financial intelligence agency AUSTRAC has introduced new restrictions on crypto ATM operators and refused to renew the registration of one crypto ATM provider, Harro’s Empires, citing ongoing risks of criminal exploitation.
This follows a taskforce review that identified increasing misuse of the machines in scam and fraud-related activity, particularly among older Australians.
The taskforce, which reviewed data from nine crypto ATM operators, found that users aged 50 and above were behind nearly 72% of transactions by value, with those aged 60 to 70 alone accounting for 29%.
AUSTRAC said the findings were particularly concerning, noting that…
