AUSTRAC introduced strict regulations for crypto ATMs in Australia to prevent scams, limiting cash transactions to AU$5,000. The rules also include enhanced tracking and customer verification to ensure safety for users.
Brendan Thomas from AUSTRAC indicated that individuals over 50 are particularly at risk, making up 72% of the cash spent at these ATMs, leading to concerns and subsequent investigations.
The number of crypto ATMs in Australia skyrocketed from 67 in August 2022 to 1,819 in June 2025, prompting regulatory authorities to tighten rules to deter misuse and protect consumers.
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