AUSTRAC Enforces New Rules for Crypto ATMs in Australia
Australia’s financial watchdog, AUSTRAC, has announced it will implement new rules for crypto ATM operators. The firm has taken these initiatives to stop scams. These rules limit cash deposits and withdrawals to AU$5,000 (approximately $3,250), include warning signals about scams, improve tracking of transactions, and require operators to check customers’ identities more thoroughly.
Starting from 3rd June 2025, the country’s crypto ATMs will be subject to these rules. AUSTRAC has also asked crypto exchanges that accept cash should consider and implement similar rules. The rules can change if required in a later stage. AUSTRAC is working with Australian police and ATM companies to prevent criminals from using these machines. The…
