Australia’s financial intelligence agency, AUSTRAC, has introduced new operational rules and cash transaction limits for cryptocurrency ATM operators following a surge in scam reports. The regulations enforce a limit of 5,000 Australian dollars (~$3,250) on both deposits and withdrawals at crypto kiosks.
These limits currently apply only to crypto ATM providers, but AUSTRAC expects crypto exchanges in Australia to consider similar restrictions if they accept cash for crypto transactions.
Enhanced Monitoring and Customer Due Diligence
AUSTRAC also mandated stronger transaction monitoring, increased customer due diligence, and the display of scam warning signs at crypto ATMs. Brendan Thomas, AUSTRAC’s CEO, emphasized that these measures are designed to protect individuals—particularly vulnerable users—from scams and to shield businesses from criminal exploitation.
Investigation Highlights Older Users as Main Targets
An AUSTRAC task force investigating nine crypto ATM providers found that users over 50 years old account for nearly 72% of transaction volume. The task force was created in September 2024 to assess anti-money laundering and counter-terrorism compliance at crypto ATMs.
Thomas noted significant concern that many customers aged 60-70 are falling victim to scams involving cash-to-crypto purchases.
Scale of Crypto ATM Transactions and Scam Losses
Approximately 150,000 crypto ATM transactions occur annually in Australia, involving about $275 million in cash converted to cryptocurrencies like Bitcoin (BTC), Tether (USDT), and Ether (ETH).
Between January 2024 and January 2025, the Australian Federal Police (AFP) received 150 unique scam reports related to crypto ATMs, with losses exceeding 3.1 million Australian dollars (~$2 million). AFP warns this figure likely represents only a fraction of the true scale.
Growing Crypto ATM Market in Australia
Australia’s crypto ATM network has grown rapidly, from just 67 machines in August 2022 to 1,819 currently, making it the world’s third-largest market after the U.S. and Canada. Leading providers include Localcoin (753 ATMs), Coinflip (700), and Bitcoin Depot (182).
AFP Urges Public Awareness and Reporting
AFP Commander Graeme Marshall highlighted that many scam victims do not realize they have been defrauded or hesitate to report incidents due to embarrassment. The AFP encourages public awareness and sharing of experiences to help prevent further victimization.
Australia’s new crypto ATM regulations represent a critical step toward safeguarding users and maintaining trust as the market continues to expand.