Australia is stepping up action against cryptocurrency ATMs after a sharp rise in scams and other illicit uses, according to AUSTRAC and law enforcement reports. Machines that let people turn cash into crypto have grown fast, and regulators say the surge has put older and vulnerable users at particular risk.

Regulators Tighten Rules

Authorities have introduced a set of new controls aimed at cutting abuse. Based on reports, a cash cap of AUD5,000 per transaction is now in place for many ATMs.

Operators are being told to strengthen identity checks, add clear scam warnings on the machines, and file more reports when activity looks suspicious. AUSTRAC has set up a task force to inspect providers and press compliance where it is missing.

Scams Hit Older People Hard

The harm is already

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