Australia’s financial intelligence regulator said on Sept. 7 that it canceled, suspended or refused to renew 45 crypto and remittance registrations during the past year.
The Australian Transaction Reports and Analysis Centre said the AUSTRAC registration actions removed affected businesses from its official registers. The agency did not identify all 45 companies or disclose how many were virtual asset service providers rather than remittance businesses.
According to its statement, AUSTRAC targeted businesses that were inactive, insolvent or unable to begin or continue operating. Other cases involved incorrect registrations, failures to report material changes or elevated money laundering and terrorism financing risks.
AUSTRAC CEO Brendan Thomas said companies with canceled registrations can no longer provide the relevant services. The regulator also referred people associated with some businesses to Australian and overseas law enforcement or regulatory partners.
“The rapid movement of money across borders can create some of the highest ML/TF risks,” Thomas said.
The action represents an administrative and supervisory response rather than a finding that all 45 businesses committed financial crimes. AUSTRAC’s stated reasons cover conditions ranging from inactivity and insolvency to alleged financial crime exposure.
AUSTRAC identified BA Digital Ventures, which traded as GetCoins, as one company affected by the yearlong sweep. Its virtual asset service provider registration was canceled on June 4, according to the agency’s public register.
The regulator worked with Australia’s National Anti-Scam Centre after receiving customer complaints. AUSTRAC then requested information about GetCoins’ operations to assess whether the company could manage its money laundering exposure.
“This VASP was allegedly exploited by organised cryptocurrency investment scams,” AUSTRAC said.
The regulator presented the connection to investment scams as an allegation. It did not accuse GetCoins, BA Digital Ventures or their directors of organizing the schemes.
AUSTRAC also did not disclose the number of affected customers, the amount allegedly lost or the identities of the groups suspected of using the platform. Its statement said the cancellation helped disrupt the alleged scam activity.
The official register lists several other virtual asset registration cancellations during 2026. They include Self Custody, Jam Xchange, Coinsec Australia, Reserve Currency of Australia and Coast to Coast Vending.
The regulator also canceled registrations belonging to Product.ST, AMSA Fintech and IT Solutions, A.K Smart Trader and Atpay Trading. AUSTRAC has not said that every company on this list was connected to suspected criminal conduct.
AUSTRAC separately suspended Cryptolink’s registration for three months beginning Aug. 9. The order prevented the company from operating its network of 96 cryptocurrency ATMs across Australia.
The regulator cited failures involving threshold transaction reports and an unanswered request for information. AUSTRAC said it remained concerned about Cryptolink’s ability to manage high-risk transactions conducted through its machines.
Cryptolink had previously completed an enforceable undertaking imposed in October 2025. That measure followed alleged breaches involving late threshold reports and weaknesses in the company’s anti-money laundering risk assessments.
The operator also paid an A$56,340 infringement notice. AUSTRAC said Cryptolink subsequently failed to meet basic reporting duties despite completing the enforceable undertaking.
As crypto.news reported, Cryptolink’s 96 cryptocurrency ATMs were ordered offline while the regulator monitored its compliance with the suspension.
Australia had already imposed an A$5,000 cash limit for cryptocurrency ATM transactions. Operators were also directed to strengthen customer checks, transaction monitoring and scam warnings.
Those controls followed rapid growth in Australia’s crypto ATM sector and evidence that scammers were directing victims to cash-to-crypto kiosks. Such machines can allow funds to move quickly after a victim deposits cash and sends the purchased cryptocurrency to a scammer’s wallet.
The presence of a registered provider does not mean AUSTRAC guarantees its services or investments. Registration confirms that a business has entered the anti-money laundering framework, but the provider must continue meeting its obligations.
AUSTRAC made its virtual asset service provider register publicly searchable in June. Consumers can use it to check a company’s legal name, trading name and registration status before transferring money or digital assets.
The 45 registration actions follow earlier compliance work across Australia’s digital asset sector. In related coverage, AUSTRAC reviewed more than 50 cryptocurrency providers and took action against 13 businesses during an earlier campaign.
In May 2026, the regulator opened two supervisory campaigns focused on local exchanges and over-the-counter crypto businesses. It began direct engagement with 36 businesses offering crypto-to-cash services and 27 local exchanges.
The reviews examine business models, transaction channels, governance and the ability to identify and manage money laundering risks. They also assess whether providers are prepared for Australia’s expanded anti-money laundering framework.
Crypto-to-crypto exchanges, virtual asset custody services and certain transfer providers now fall within the broader regime. Australia’s travel rule also began applying to covered virtual asset transfers on July 1.
As previously reported, Australian exchanges must collect additional transfer information, including details about senders, recipients and associated wallets. Self-custody remains permitted, although transfers involving regulated platforms can require additional checks.
These anti-money laundering requirements operate separately from Australia’s financial services licensing system. A company may need AUSTRAC registration, an Australian financial services licence or both, depending on the services and products it offers.
The registration sweep also comes after AUSTRAC opened an investigation into Western Union Financial Services Australia and its U.S. parent on Sept. 1.
The inquiry examines Western Union’s anti-money laundering program, transaction monitoring and corporate governance. AUSTRAC said it had concerns about the management of high-risk payment channels, customers and affiliates.
The regulator clarified that Western Union’s affiliates are not themselves under investigation. AUSTRAC will decide whether enforcement action is appropriate after completing its inquiry.
Its review follows an external audit ordered in 2025 and previous regulatory engagement with the money-transfer company. Western Union has committed to addressing issues raised by the audit, according to AUSTRAC.
Crypto companies face an additional deadline on Sept. 30. As crypto.news reported, qualifying digital asset businesses must apply for financial licences before temporary enforcement relief expires.
From October, businesses operating outside the relief conditions may face civil or criminal enforcement. The requirement applies only when their products or services fall within existing financial services laws.
AUSTRAC has not set a closing date for its broader review of virtual asset and remittance providers. Thomas said the regulator would continue removing businesses that fail to manage financial crime risks or satisfy reporting requirements.
