Australia’s financial intelligence agency, AUSTRAC, has introduced strict new rules for cryptocurrency ATM operators as part of a crackdown on scams targeting older Australians.
The move follows a sharp increase in fraudulent activities linked to crypto kiosks nationwide.
Australia introduces new operating rules and transaction limits for crypto ATM operators
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has launched new operating rules and transaction limits for crypto ATM operators, aiming to prevent criminal abuse of crypto…
— CoinNess Global (@CoinnessGL) June 3, 2025
AUSTRAC now enforces a 5,000 Australian dollar (about $3,250) limit on both cash deposits and withdrawals at crypto ATMs. Operators must also display scam warnings, strengthen transaction monitoring, and conduct enhanced customer due diligence. These new requirements aim to make it harder for criminals to exploit the machines for illicit activities.
The agency expects crypto exchanges that accept cash to consider similar limits. AUSTRAC CEO Brendan Thomas stated that the rules are currently under review and may be adjusted as needed in collaboration with law enforcement and industry stakeholders.
“The conditions are designed to help protect individuals from scams by deterring criminals from directing them to a crypto ATM, as well as to protect businesses from criminal exploitation,” Thomas stated.
AUSTRAC’s task force found that people over 50 account for nearly 72% of all crypto ATM transactions by value. Many victims are aged 60–70, with scams often going unreported due to embarrassment or lack of awareness. The Australian Federal Police (AFP) received 150 unique scam reports involving crypto ATMs between January 2024 and January 2025, with losses exceeding 3.1 million Australian dollars ($2 million). Authorities warn that the accurate scale of losses is likely much higher.
Notably, Australia has appointed Tim Wilson as Assistant Minister for Technology to strengthen cryptocurrency regulations and promote innovation in the digital economy. The government is developing a comprehensive framework for crypto and DeFi, focusing on AML/CTF laws, tax guidelines, and stablecoin/CBDC frameworks.
Australia now ranks as the world’s third-largest market for crypto ATMs, with 1,819 machines—up from just 67 in August 2022. Major providers include Localcoin, Coinflip, and Bitcoin Depot. Annual transaction volumes have reached nearly $275 million, mainly in Bitcoin, Tether, and Ether.
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