🇦🇺 Australia Tightens Crypto ATM Regulations Amid Rising Scams

Australia is implementing new regulations on cryptocurrency ATMs to combat increasing scam activities.
Cointelegraph

1. Transaction Limits Imposed: The Australian Transaction Reports and Analysis Centre (AUSTRAC) has introduced a cap of 5,000 Australian dollars (~$3,250) on cash deposits and withdrawals at crypto ATMs. This measure aims to deter illicit activities and protect consumers from fraud. 

2. Demographic Vulnerability: Investigations revealed that individuals over 50 years old account for nearly 72% of crypto ATM transactions by value. This demographic has been disproportionately targeted by scammers, prompting authorities to enhance protective measures.

3. Rapid Growth of Crypto ATMs: Australia has experienced a significant surge in crypto ATM installations, growing from 67 machines in August 2022 to 1,819 by June 2025. This rapid expansion has raised concerns about the potential misuse of these kiosks for fraudulent purposes.

Regulating crypto ATMs in Australia is crucial to combat scams targeting older demographics. The new transaction limits and increased oversight aim to protect consumers and prevent illicit activities. The rapid growth of ATMs underscores the importance of proactive regulatory measures in the crypto space.