AUSTRAC fines
Australia’s financial intelligence agency, AUSTRAC, has imposed a fine on Cryptolink as part of its ongoing crackdown on cryptocurrency ATMs. This enforcement action is part of a broader initiative to regulate the cryptocurrency sector more effectively. AUSTRAC has been focusing on ensuring compliance with anti-money laundering and counter-terrorism financing laws among cryptocurrency service providers. The agency’s efforts aim to enhance the integrity of the financial system and protect consumers from potential risks associated with digital currencies. As part of this initiative, AUSTRAC has been closely monitoring the operations of various crypto businesses, including ATM operators, to ensure they adhere to regulatory requirements.
