AUSTRAC has suspended Cryptolink Pty Ltd’s registration amid ongoing concerns about its compliance with anti-money laundering and counter-terrorism financing (AML/CTF) obligations.

Cryptolink is a Virtual Asset Service Provider (VASP) that operates a network of cryptocurrency automatic teller machines (CATMs) across Australia. CATMs allow customers to exchange cash for cryptocurrency.

AUSTRAC CEO Brendan Thomas said Cryptolink’s VASP registration was suspended for three months from Monday 9 August and it is no longer allowed to operate its 96 CATMs.

“As part of our continued focus on digital currency as a money laundering risk, AUSTRAC has ongoing concerns about the company’s ability to manage high-risk transactions through its…