Australia has imposed new restrictions on crypto ATM providers, introducing a cash transaction limit of AUD 5,000 (about $3,250 USD) as part of a broader crackdown on fraud and illicit financial activity. The Australian Transaction Reports and Analysis Centre (AUSTRAC) announced the measures in a June 3 press release, highlighting the growing misuse of crypto ATMs by scammers and criminal networks.
The new regulations require ATM operators to display clear scam warnings, conduct enhanced customer due diligence, and improve monitoring for suspicious activity. According to AUSTRAC CEO Brendan Thomas, these measures aim to “protect individuals from scams and businesses from criminal exploitation” while raising the industry’s compliance standards under anti-money laundering (AML) and counter-terrorism financing (CTF) laws.
Data from an AUSTRAC-led task force revealed that Australians over 50 account for 72% of all crypto ATM transaction value, with individuals aged 60–70 making up nearly 30%. Authorities say these demographics are often targeted by scammers posing as government officials, law enforcement, or tech support agents instructing victims to deposit cash into ATMs.
AUSTRAC has already refused to renew the registration of one operator, Harro’s Empires, due to ongoing compliance risks. The agency warned that any crypto exchange or ATM provider failing to meet legal obligations under the AML/CTF Act could face enforcement actions, including suspension or deregistration. Other exchanges accepting cash are being encouraged to adopt voluntary cash limits to minimize financial crime risks.
In collaboration with the Australian Federal Police-led JPC3 task force, AUSTRAC is also rolling out educational materials at ATM locations. These resources will inform users about scam tactics, red flags, and reporting mechanisms. This comes after a warning earlier this year, where AUSTRAC stated it had been engaging with ATM operators since December 2024 to bolster compliance across the expanding network.
Australia currently hosts over 1,800 crypto ATMs, up from just 23 in 2019. According to AUSTRAC, nearly 150,000 transactions move around $275 million in cash annually through these machines, primarily involving Bitcoin, Tether, and Ether. For more updates on crypto regulation and blockchain security, visit TheCoinInfo.
