The Australian Government is Granting New Powers to Crypto ATMs.

New Regulation on Crypto ATMs in Australia

Australia's Minister of Home Affairs Tony Burke wants to give more authority to AUSTRAC, the country’s anti-money laundering watchdog, regarding cryptocurrency automatic machines. This new regulation aims to increase oversight over crypto ATMs.

According to data provided by Coin ATM Radar, there are currently a total of 2,100 cryptocurrency automatic machines in Australia. However, a statement from AUSTRAC indicates that most high-value crypto ATM transactions are directly related to fraud or the movement of money in high-risk areas.