Labor to crackdown on crypto ATMs amid scam surge
The Albanese government will create new powers to crack down on the use of crypto ATMs after authorities warned that they have become a major source of criminal activity, including scams, money laundering and terrorism financing.
Crypto ATMs allow individuals to purchase Bitcoin and other popular cryptocurrencies with either cash or debit cards, and have exploded in number off the back of a surge in prices and a friendly regulatory regime ushered in by US President Donald Trump.
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