Australia cracks down on crypto ATMs as scams, fraud uncovered
There are now more than 1,800 machines in the country compared to just 23 in 2019, according to Austrac data
Published Tue, Jun 3, 2025 · 10:03 AM
[MELBOURNE] Australia’s financial crimes agency placed curbs on cryptocurrency automatic teller machines (ATMs) as the surging number of kiosks increasingly attract fraudsters and scammers.
The Australian Transaction Reports and Analysis Centre, known as Austrac, placed a A$5,000 (S$4,169) limit on cash deposits and withdrawals as part of new measures to safeguard consumers, according to a statement on Tuesday (Jun 3). It’s also refused to renew the registration of one crypto ATM provider.
Austrac “has uncovered disturbing trends which have confirmed that cryptocurrency ATMs are being…
