Australia’s financial crime regulator has shown the crypto ATM industry it doesn’t need new legal powers to shut a major operator down — it can already do it with the ones it has.

AUSTRAC suspended Cryptolink Pty Ltd’s registration as a Virtual Asset Service Provider for three months, effective August 9, taking the company’s 96 Bitcoin ATMs offline across Sydney, Melbourne, and Brisbane. The regulator said Cryptolink had met the terms of an enforceable undertaking it signed in October 2025, then failed to submit required threshold transaction reports and did not respond to a follow-up information request. AUSTRAC CEO Brendan Thomas said the company was “deemed too high risk to continue operating at present.”

The rationale is…