Australia has the third largest number of crypto ATMs in the world and regulators are worried they could be facilitating financial crime.
Australia’s national financial intelligence agency has flagged crypto as a priority for the year ahead and is creating a new task force to crack down on crypto ATM providers who may be flouting Anti-Money Laundering laws.
In a Dec. 6 statement, Australian Transaction Reports and Analysis Centre (AUSTRAC) CEO Brendan Thomas said the government agency is shifting focus to the cryptocurrency industry in 2025.
“Cryptocurrency and crypto ATMs are attractive avenues for criminals looking to launder money, as they are widely accessible and make near-instant and irreversible transfers,” he said, adding:
