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Australia Cracks Down on High-Risk Crypto ATMs Amid Fraud Surge

Australia Cracks Down on High-Risk Crypto ATMs Amid Fraud Surge

Author:

Global Cryptocurrency

Published:

2025-10-17 08:48:02

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BTCCSquare news:

Australian authorities are tightening regulations on cryptocurrency ATMs following revelations of widespread misuse for fraud and money laundering. The new bill empowers AUSTRAC to restrict or ban high-risk crypto ATM operations, marking one of the government's most aggressive moves against crypto-related financial crimes.

Home Affairs Minister Tony Burke labeled crypto ATMs as "high-risk products" after AUSTRAC reported 85% of large transactions through these machines linked to illicit activity. The rapid expansion from 23 to over 2,000 crypto ATMs in six years has created regulatory challenges amid the sector's growth.

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