A company specialising in operating ATMs that exchange cryptocurrency for cash has had its network temporarily shut down over concerns it hasn’t complied with anti-money laundering and counter-terrorism funding laws.
Cryptolink operated 96 cryptocurrency ATMs across Australia, specifically designed to help people withdraw money earned from owning Bitcoin and other cryptocurrency.
Cryptocurrency ATMs allow people to exchange Bitcoin and other cryptocurrency for cash. Supplied
However, AUSTRAC, Australia’s financial intelligence agency, has forced the company to stop operating its crypto ATMs (CATM) for three months, starting on Monday.
AUSTRAC chief executive Brendan Thomas said the suspension came after the company could not guarantee…
