Australia to impose cap on digital asset transactions at crypto ATMs
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has introduced new rules for crypto ATM operators, requiring them to set limits on cash transactions. Now, all transactions exceeding 5,000 Australian dollars (about $3,250) must be capped.

This decision was made in order to strengthen control over the circulation of digital assets and prevent the possible use of cryptomats in illegal schemes. In addition, operators of such devices are now required to inform users about the risks of cryptocurrency fraud and conduct stricter verification of clients. Enhanced monitoring of all transactions is also required to identify suspicious activity. These measures are designed to help combat money laundering and comply with the requirements of the country's legislation on combating financial crimes.
The regulator based the new regulations on the results of a study conducted by a special AUSTRAC task force, which examined the use of cryptomats in Australia. The study included data from nine major operators, and it turned out that the majority of users of these devices are people over 50 years old, who account for almost 72% of all transactions in monetary terms. Particularly noteworthy is that among the age group of 60-70 years, this figure is 29%, which indicates a high level of involvement of older citizens in such operations. As part of its efforts to strengthen supervision, AUSTRAC also refused to renew the registration of Harro's Empires, a company engaged in the operation of cryptomats. The decision is due to the identified risks associated with the possible illegal use of this company's equipment.
The regulator indicated that failure to comply with the requirements may result in similar actions against other operators. AUSTRAC warned that any digital currency exchange service providers that fail to comply with their obligations under current anti-money laundering and counter-terrorist financing rules may face serious consequences, including revocation of registration or prosecution. Thus, the regulator demonstrates a tough approach to monitoring the circulation of crypto assets through physical devices, especially in an environment where the age group of users is prone to increased risks of fraud.