• About Us
  • Careers
  • Contact
No Result
View All Result
Thursday, June 5, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result

Australia Imposes New Crypto ATM Rules to Combat Rising Scams

3 June 2025
in News
Reading Time: 3 mins read
108 2
Home News

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.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: AdoptionAustraliaCrypto
Share64Tweet40Share11
Previous Post

Taiko Highlights Scaling Breakthroughs and Binance Milestone at Based Rollup Summit

Next Post

Sberbank Launches Bitcoin-Linked Bonds Amid Growing Russian Crypto Interest

Bobby Okposin

Bobby Okposin

Related Posts

source: egr.global
Crypto

Crypto.com Sues Nevada Gaming Regulator Over Sports Event Contract Ban

5 June 2025
source: cyberscoop.com
Crypto

US Authorities Seize 145 Domains, Crypto Tied to BidenCash Dark Web Marketplace

5 June 2025
source: ccn.com
News

Solo Miner Strikes Gold Amid Record Difficulty, Bags $330K Bitcoin Block Reward

5 June 2025
source:
Crypto

High-Stakes Bitcoin Bet Ends in $25M Liquidation for Leverage Trader James Wynn

5 June 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Featured Posts

The Hidden Dangers of Holding Crypto in Exchanges

The Hidden Dangers of Holding Crypto in Exchanges

byOlajumoke Oyalekeand1 others
27 May 2025
0

Should We Put a Price on Everything? The Ethics of Tokenizing Human Actions

Should We Put a Price on Everything? The Ethics of Tokenizing Human Actions

byFaari Labinjo
27 May 2025
0

The Most Influential Figures in Crypto History and Their Impact

The Most Influential Figures in Crypto History and Their Impact

byBobby Okposin
14 May 2025
0

Are Layer 2 Solutions Enhancing Ethereum—or Killing it?

byOlayinka Sodiqand1 others
6 January 2025
0

Beginner’s Guide To Earning Passive Income In Crypto | DeFi Planet

Simple Ways To Earn Passive Income From Your Crypto

byArjun Chandand1 others
1 September 2021
0

Read More

Chain of Thoughts

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Is Tokenization All That It’s Cracked Up To Be?

Is Tokenization All That It’s Cracked Up To Be?

byOlu Omoyele
26 February 2025
0

...

Markets Update

Your Weekend Crypto Roundup | May 2025 (Week 5)

5 days ago

Your Weekend Crypto Roundup | May 2025 (Week 4)

2 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 3)

3 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 2)

4 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 1)

1 month ago

Your Weekend Crypto Roundup | April 2025 (Week 4)

1 month ago
Read More

Events

Crypto Valley Conference
Crypto Valley Conference
5 Jun 25
Risch-Rotkreuz

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

Nibiru Launches ”Block Party” Aura Program to Reward Real DeFi Activity

bychainwire
5 June 2025
0

BYDFi and Ledger Launch Global Campaign with Limited BYDFi x Ledger Nano X

bychainwire
5 June 2025
0

$ZEUS Marking His Territory: Announcing An IP Collaboration with Original Zeus Artist and Trademark Holder

bychainwire
4 June 2025
0

Huma Joins the Global Dollar Network to Advance Stablecoin Adoption on Solana

bychainwire
4 June 2025
0

Zircuit Joins Binance Alpha: ZRC Airdrop & Trading Competition Go Live

bychainwire
3 June 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00