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Australia to ban crypto ATMs over money laundering risks, citing 85% illicit user rate.
The Australian government is moving to ban crypto ATMs to combat money laundering and terrorism financing, following AUSTRAC data showing 85% of top users are involved in illicit activity, with nearly all transactions in cash.
Home Affairs Minister Tony Burke announced new powers for AUSTRAC to restrict high-risk financial services, while banks will gain tools to verify visa holders’ residency status to detect mule accounts.
The reforms, part of a broader push to expand compliance to professionals like lawyers and real estate agents by July 2026, aim to strengthen financial oversight and consumer confidence.
Australia has one of the highest numbers of crypto ATMs globally, with over 2,000 machines nationwide, many concentrated in major cities.
Australia prohibirá los cajeros automáticos criptográficos por los riesgos de lavado de dinero, citando una tasa de usuarios ilícitos del 85%.