On June 3, 2025, AUSTRAC introduced new rules for crypto ATM operators across Australia.
The regulations include a $3,250 cash limit per deposit or withdrawal at any crypto ATM. These rules aim to address the rising number of crypto scams in Australia.
AUSTRAC, or the Australian Transaction Reports and Analysis Centre, now requires operators to add scam warning signs and stricter transaction monitoring.
They must also apply stronger identity checks. According to AUSTRAC, these new Australia crypto ATM rules may change depending on how effective they are.
So far, the rules apply only to crypto ATM operators. However, AUSTRAC expects exchanges that accept cash to consider similar limits.
Brendan Thomas, CEO of AUSTRAC, said the goal is to protect individuals and reduce criminal activity linked to crypto ATMs.
Crypto Scams Australia: Users Over 50 Most Affected
A task force from AUSTRAC reviewed data from nine ATM operators. It found that Australians over age 50 make up 72% of the total transaction value.
Many of these users were between 60 and 70 years old. AUSTRAC noted that these older users often do not realize they were targets of a Bitcoin ATM scam.
Brendan Thomas explained the concern.
“It is a huge concern that people in this demographic are overrepresented… and that a large number of 60–70 year old users are victims of scam activity,”
he said.
The task force launched in September 2024. It looked into whether operators followed AUSTRAC crypto AML regulations, including anti-money laundering and counter-terrorism laws. These checks are required by law for any crypto ATM usage involving cash transactions.
According to AUSTRAC, Australians make about 150,000 transactions per year using crypto ATMs. These involve about $275 million in cash for buying Bitcoin, Tether, or Ether.
Bitcoin ATM Scam Reports Top $2 Million, Say Police
The Australian Federal Police (AFP) confirmed that scam losses through crypto ATMs reached 3.1 million Australian dollars (about $2 million).
These figures come from 150 individual reports filed with ReportCyber, the national online crime portal, between January 2024 and January 2025.
The AFP said the actual total may be much higher. Many victims did not report the fraud or were unaware they had been scammed.
AFP Commander Graeme Marshall said some felt too ashamed to speak about the experience.
“Scammers often use sophisticated tactics to elicit funds from victims,”
Marshall stated. He encouraged victims to talk to family and friends to raise awareness.
This information aligns with AUSTRAC’s view that criminals often use cash-based crypto access points to carry out scams. The $3,250 cash limit is part of a broader crypto fraud crackdown by both AUSTRAC and the AFP.
Coin ATM Radar: Australia Now Has 1,819 Crypto ATMs
Data from Coin ATM Radar shows that Australia now has 1,819 active crypto ATMs. In August 2022, the country had only 67 machines.
The surge started in late 2022 when private companies began expanding into the sector.
Australia is now the third-largest country by crypto ATM count, following the United States and Canada.
The sharp growth in crypto ATM usage has raised concerns over criminal activity and the need for tighter controls.
The largest providers include Localcoin with 753 ATMs, Coinflip with 700, and Bitcoin Depot with 182. These machines are placed in shopping malls, fuel stations, and corner stores.
Both AUSTRAC and the Australian Federal Police continue to monitor the crypto ATM sector.
They plan to review the new Australia crypto ATM rules and adjust them as needed based on crime trends and data from operators.
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