Archive · 5 Jun 2025
Australia Limits Crypto ATM Transactions to Curb Scams
Australia is putting new rules on crypto ATMs to protect people from getting scammed.
The government is limiting how much money people can put in or take out of these ATMs to AUD 5,000.
They're doing this because they've seen a lot of people, especially older folks, using the ATMs and getting tricked into scams.
Crypto ATMs have become popular, but there are concerns about criminals using them.
The government is also putting up signs near the ATMs to help people spot scams.
If you are asked to send funds via crypto ATM, think twice.
Australia has limited crypto ATM transactions to AUD 5,000.
The new rules aim to reduce crypto scams, especially targeting the elderly.
Over 1,200 crypto ATMs are active in Australia as of 2024.
Around AUD 275 million is processed annually through these ATMs.
AUSTRAC is raising awareness about crypto ATM risks.
- Who
- The Australian Transaction Reports and Analysis Centre (AUSTRAC) is enforcing the new rules.
- What
- Australia is enforcing a AUD 5,000 limit on crypto ATM transactions.
- When
- The new rules have been implemented.
- Where
- Australia
- Why
- To curb crypto scams and money laundering.
- New Crypto ATM Transaction Limit
- AUD 5,000
- Crypto ATMs in Australia in 2024
- Over 1,200
- Approximate Funds Processed Annually
- AUD 275 million
- Annual Transactions via Crypto ATMs
- 150,000
- Most Common Cryptocurrencies Purchased
- Bitcoin, Tether, and Ethereum
- Main users of crypto ATMs
- Elderly individuals