Burke to introduce laws against crypto ATMs
Home Affairs Minister Tony Burke says he will enforce new legislation to allow Australia’s money-laundering regulator to crack down on cryptocurrency ATMs.
Speaking at the National Press Club on Thursday, Burke said buying crypto with cash makes it difficult to trace, with AUSTRAC linking crypto ATMs to money laundering, scams and child exploitation (Yahoo Finance).
Burke said legislation is being drafted to restrict or prohibit “high-risk products” such as crypto ATMs, which is expected to be introduced to parliament in the coming months.
“I’m not pretending for a minute that everybody who goes in and uses a crypto ATM is a problem, but proportionately, what’s happening is a significant problem in an…
