1 day ago
Australia has the highest fig of crypto ATMs successful the Asia Pacific region.
Mar 31, 2025, 11:13 a.m. UTC
AUSTRAC, Australia's anti-money laundering watchdog, enactment crypto ATM providers connected announcement for not complying with required standards.
"AUSTRAC’s cryptocurrency taskforce has recovered that immoderate crypto ATM providers whitethorn not person the close anti-money laundering and counter-terrorism (AML/CTF) checks successful place," the fiscal quality bureau said in a merchandise connected Monday.
Crypto ATM providers request to registry with the regulator, show transactions and implicit cognize your lawsuit checks to comply with the country's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006.
Australia has the highest numbers of crypto ATMs successful the Asia Pacific region, and the fig is growing. The federation has immoderate 1,600 successful use, up from conscionable 23 successful 2019, AUSTRAC said.
A task unit acceptable up successful December "identified worrying trends and indicators of suspicious activity, including transactions that whitethorn beryllium linked to scams oregon fraud,” CEO Brendan Thomas said.
The watchdog has been pursuing successful the footsteps of U.K. regulators successful trying to clamp down connected amerciable crypto ATM activity. In the U.K. lone approved crypto ATMS tin operate, and nary person been. The Financial Conduct Authority past period secured a 4 twelvemonth condemnation against Olumide Osunkoya, 46, for illegally operating a crypto ATM network.
Camomile Shumba
Camomile Shumba is simply a CoinDesk regulatory newsman based successful the UK. Previously, Shumba interned astatine Business Insider and Bloomberg. Camomile has featured successful Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner. Shumba studied politics, doctrine and economics arsenic a combined grade astatine the University of East Anglia earlier doing a postgraduate grade successful multimedia journalism. While she did her undergraduate grade she had an award-winning vigor amusement connected making a difference. She does not presently clasp worth successful immoderate integer currencies oregon projects.
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