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Crackdown Down Under: AUSTRAC Clamps Down on Crypto ATMs Amid Surge in Shady Transactions
Crackdown Down Under: AUSTRAC Clamps Down on Crypto ATMs Amid Surge in Shady Transactions
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Australia’s financial watchdog isn’t playing nice—crypto ATMs just got shoved under the regulatory microscope. After a spike in illicit activity, AUSTRAC’s tightening the screws, forcing operators to verify identities or face the music.
No more anonymous cash swaps—compliance just became non-negotiable. The move targets machines allegedly used for money laundering, but critics argue it’s another knee-jerk reaction from bureaucrats who still think Bitcoin is a ’fad.’
Meanwhile, traditional banks quietly process billions in dirty fiat—but sure, let’s blame the shiny new tech first.
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