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Australia has implemented new operational rules and cash transaction limits for crypto ATM providers to combat scams and enhance compliance with anti-money laundering (AML) regulations. These measures aim to safeguard the public and reduce criminal misuse of cryptocurrency systems.
New Crypto ATM Regulations in Australia
Effective immediately, the Australian Transaction Reports and Analysis Centre (AUSTRAC) has mandated a cash deposit and withdrawal limit of 5,000 Australian dollars (approximately $3,250) for crypto ATMs. Additionally, operators are now required to display scam warning messages on their machines to inform users about potential risks.
Crypto ATM providers must also implement stricter customer identification protocols and enhance their monitoring systems for suspicious transactions. These measures are designed to address vulnerabilities and prevent the exploitation of crypto ATMs by bad actors.
“These conditions are designed to help protect individuals from scams and businesses from criminal exploitation,” said AUSTRAC CEO Brendan Thomas. “It is absolutely necessary to ensure the sector meets minimum standards and reduces the criminal misuse of crypto ATMs.”
AUSTRAC’s Investigation and Findings
The updated rules follow an extensive AUSTRAC-led investigation into crypto ATM usage across Australia. The task force analyzed data from nine providers and found that individuals over the age of 50 accounted for nearly 72% of all transaction value. Notably, the 60-to-70 age group represented 29% of transactions, highlighting a demographic particularly vulnerable to scams.
As part of its enforcement efforts, AUSTRAC refused to renew the registration of one operator, Harro’s Empires, citing risks of non-compliance. The agency also warned other digital currency exchange providers that failing to adhere to obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act could result in similar penalties.
Educational Efforts and Industry Collaboration
In collaboration with the Australian Federal Police-led Joint Policing Cybercrime Coordination Centre (JPC3), AUSTRAC has developed educational materials to combat scams. These resources will be placed near crypto ATMs to inform users about common fraud tactics, warning signs, and steps to report suspicious activity.
AUSTRAC also urged all cryptocurrency exchanges that accept cash to voluntarily adopt similar transaction limits to mitigate exposure to financial crime risks. This proactive approach is intended to create a safer environment for both consumers and businesses engaging with digital assets.
Crypto Scams and Financial Losses
Authorities highlighted that several Australians had lost their life savings due to scams involving crypto ATMs. Scammers often direct victims to these machines, which primarily accept cash for Bitcoin purchases, posing significant risks of exploitation.
Between January 2024 and January 2025, the Australian Federal Police reported 150 scam-related cases involving crypto ATMs, with losses exceeding 3.1 million Australian dollars. Officials believe the true number of victims may be higher, as many cases go unreported due to a lack of awareness or reluctance to come forward.
Growing Crypto ATM Network in Australia
Australia’s crypto ATM network has grown significantly in recent years, with over 1,800 machines currently operational—a sharp rise from just 23 in 2019. These machines facilitate nearly 150,000 transactions annually, moving an estimated $275 million in cash. Bitcoin, Tether, and Ether remain the most commonly purchased assets.
As the popularity of cryptocurrency continues to rise, these measures underline the importance of regulatory oversight in protecting users and maintaining the integrity of the financial system.
