AUSTRAC has fined Cryptolink 56,340 Australian dollars ($37,000) after identifying "weaknesses" in the company's AML/CTF compliance.
AUSTRAC said that the majority of high-value crypto ATM transactions were directly associated with scams or moving money to high-risk jurisdictions.
New Zealand’s Ministry of Justice is set to ban crypto ATMs as part of a sweeping overhaul of the country’s anti-money laundering and counter-terrorism financing (AML/CFT) framework. The move forms part of a broader strategy to tighten regulations around financial crime while reducing compliance burdens for legitimate businesses. In a statement released on July 9, […]
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The government also proposed setting an upper limit of 5,000 New Zealand dollars ($3,000) for international cash transfers.
Australia has the highest number of crypto ATMs in the Asia Pacific region.
North Dakota lawmakers have taken a decisive step toward regulating crypto ATMs, approving a bill imposing a $2,000 daily transaction limit per user. On March 18, the state Senate passed House Bill 1447, advancing legislation designed to curb fraud and enhance oversight. HB 1447 seeks to protect residents from rising fraud cases linked to crypto ATMs. According […]
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Australia has a total of 1,359 Bitcoin ATMs, which is about 3.5% of all crypto ATMs in the world.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has intensified efforts to enforce Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regulations among crypto ATM providers. On Dec. 6, the watchdog said that crypto ATMs are increasingly used for money laundering and other illicit activities. Despite the country having around 400 registered crypto exchanges, only a small portion […]
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Countries worldwide contributed heavily to the month-on-month increase in Bitcoin ATMs throughout 2024, collectively coming close to reclaiming the 38,000 mark.