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🚨 Tasmania Joins Crackdown on Crypto ATM Scams
Crypto scams are hitting hard — Tasmania reports $1.6M in losses, with victims tricked into depositing funds via crypto ATMs.
Key highlights:
🔹 15 top ATM users = all scam victims
🔹 $592K lost via ATM deposits
🔹 Romance & fake investment schemes are common tactics
🔹 Nationwide crackdown by AUSTRAC & Federal Police underway
🔹 Tasmania now has 20+ ATMs (up from just 1 in 2021)
⚠️ Reminder: Never deposit cash into a crypto ATM on request from strangers or under pressure.
This isn’t just a tech issue — it’s a real-life financial threat.
#CryptoNews #CryptoScams #AUSTRAC
Crypto scams are hitting hard — Tasmania reports $1.6M in losses, with victims tricked into depositing funds via crypto ATMs.
Key highlights:
🔹 15 top ATM users = all scam victims
🔹 $592K lost via ATM deposits
🔹 Romance & fake investment schemes are common tactics
🔹 Nationwide crackdown by AUSTRAC & Federal Police underway
🔹 Tasmania now has 20+ ATMs (up from just 1 in 2021)
⚠️ Reminder: Never deposit cash into a crypto ATM on request from strangers or under pressure.
This isn’t just a tech issue — it’s a real-life financial threat.
#CryptoNews #CryptoScams #AUSTRAC
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Australia Cracks Down on Crypto: 13 Companies Punished for Violations
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has just launched a strong crackdown on the cryptocurrency sector, targeting 13 crypto companies for violating anti-money laundering and terrorism financing regulations. This is the result of a year-long investigation aimed at tightening control over digital asset exchanges in Australia.
A Series of Crypto Companies Have Been Suspended or Have Their Licenses Revoked
A Series of Crypto Companies Have Been Suspended or Have Their Licenses Revoked
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Australian Senator (#Australia ) Gerard Rennick recently drew attention by predicting that Bitcoin could reach 1 million USD, despite calling it a "Ponzi scheme" due to its limited supply and the flow of money from institutions like BlackRock (May 26, 2025). However, despite the critical viewpoint, Bitcoin remains the focal point of investment in Australia, providing a great opportunity for smart investors.
The breakthrough potential of Bitcoin
Bitcoin, currently trading at 108,904 USD (CoinMarketCap, May 26, 2025), is benefiting from the interest of global financial institutions. Australia, with 1.2 million crypto users (Statista, 2025), is a vibrant market, driven by friendly regulations from #AUSTRAC . Bitcoin ETF funds in Australia, such as the Monochrome Bitcoin ETF, attracted 150 million AUD in 2024, according to ASX. The limited supply (21 million BTC) and high demand from institutional investors are driving Bitcoin's price surge, which could reach 150,000–200,000 USD by the end of 2025, according to TradingShot. #anhbacong
The breakthrough potential of Bitcoin
Bitcoin, currently trading at 108,904 USD (CoinMarketCap, May 26, 2025), is benefiting from the interest of global financial institutions. Australia, with 1.2 million crypto users (Statista, 2025), is a vibrant market, driven by friendly regulations from #AUSTRAC . Bitcoin ETF funds in Australia, such as the Monochrome Bitcoin ETF, attracted 150 million AUD in 2024, according to ASX. The limited supply (21 million BTC) and high demand from institutional investors are driving Bitcoin's price surge, which could reach 150,000–200,000 USD by the end of 2025, according to TradingShot. #anhbacong
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Strengthening Regulations on Crypto ATMs
#AUSTRAC , the financial transaction regulatory authority of Australia, has tightened regulations on cryptocurrency ATMs after noting an increase in fraudulent activities, particularly targeting users aged 60–70. This move, which includes denying licenses to ATM provider Harro’s Empires and limiting transactions to 5,000 USD, demonstrates a commitment to protecting users and promoting the sustainable development of the crypto market in the APAC region, where Australia is a key Web3 hub.
New data shows that individuals over 50 account for 72% of the transaction value through #ATMcrypto , with the 60–70 age group making up 29%. To mitigate risks, AUSTRAC requires enhanced customer verification and warning signs at ATMs. These measures not only protect users but also reinforce trust in blockchain platforms like BNB Chain, where DeFi and Web3 projects are thriving.
Currently, Australia has over 1,800 crypto ATMs, processing approximately 275 million USD in transactions each year, primarily in Bitcoin, Ethereum, and Tether. Strengthening regulations may promote transparent and legally compliant blockchain projects, creating opportunities for long-term investors.
Risk Warning: The information in this article is for reference only and does not constitute investment advice.
#AUSTRAC , the financial transaction regulatory authority of Australia, has tightened regulations on cryptocurrency ATMs after noting an increase in fraudulent activities, particularly targeting users aged 60–70. This move, which includes denying licenses to ATM provider Harro’s Empires and limiting transactions to 5,000 USD, demonstrates a commitment to protecting users and promoting the sustainable development of the crypto market in the APAC region, where Australia is a key Web3 hub.
New data shows that individuals over 50 account for 72% of the transaction value through #ATMcrypto , with the 60–70 age group making up 29%. To mitigate risks, AUSTRAC requires enhanced customer verification and warning signs at ATMs. These measures not only protect users but also reinforce trust in blockchain platforms like BNB Chain, where DeFi and Web3 projects are thriving.
Currently, Australia has over 1,800 crypto ATMs, processing approximately 275 million USD in transactions each year, primarily in Bitcoin, Ethereum, and Tether. Strengthening regulations may promote transparent and legally compliant blockchain projects, creating opportunities for long-term investors.
Risk Warning: The information in this article is for reference only and does not constitute investment advice.
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The Australian regulatory authority tightens oversight on inactive cryptocurrency trading platforms and calls for license withdrawals
Cryptocurrency trading platforms in Australia are facing increased scrutiny from the Australian Transaction Reports and Analysis Centre (AUSTRAC), which announced that a large number of registered platforms — currently numbering 427 — appear to be inactive.
The authority has urged these platforms to voluntarily withdraw their registration, or they will be subject to mandatory cancellation, noting that inactive accounts could be exploited for illegal activities such as money laundering and fraud.
Brendan Thomas, the CEO of the authority, confirmed that maintaining updated records is crucial for consumer protection and ensuring the integrity of the sector.
He noted that AUSTRAC intends to launch a publicly searchable register that will enable the public to verify the regulatory status of the platforms.
These actions are part of a broader campaign launched by the authority since February, which included interventions against 13 companies and investigations with more than 50 others for failing to comply with suspicious transaction reporting requirements.
The authority also emphasized the risks of cryptocurrencies concerning money laundering and smuggling, and has established new controls targeting ATMs associated with these assets.
#AustraliaCrypto
#AUSTRAC #crypto
Cryptocurrency trading platforms in Australia are facing increased scrutiny from the Australian Transaction Reports and Analysis Centre (AUSTRAC), which announced that a large number of registered platforms — currently numbering 427 — appear to be inactive.
The authority has urged these platforms to voluntarily withdraw their registration, or they will be subject to mandatory cancellation, noting that inactive accounts could be exploited for illegal activities such as money laundering and fraud.
Brendan Thomas, the CEO of the authority, confirmed that maintaining updated records is crucial for consumer protection and ensuring the integrity of the sector.
He noted that AUSTRAC intends to launch a publicly searchable register that will enable the public to verify the regulatory status of the platforms.
These actions are part of a broader campaign launched by the authority since February, which included interventions against 13 companies and investigations with more than 50 others for failing to comply with suspicious transaction reporting requirements.
The authority also emphasized the risks of cryptocurrencies concerning money laundering and smuggling, and has established new controls targeting ATMs associated with these assets.
#AustraliaCrypto
#AUSTRAC #crypto
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Crypto ATMs in Australia Under Close Scrutiny: Where is the Dirty Money Flowing?
On March 29, 2025, Australia's financial crime agency (AUSTRAC) issued a stern warning to cryptocurrency ATM providers, having detected that many machines may be exploited for money laundering and fraud. With over 1,648 crypto ATMs in Australia – the highest number in the Asia-Pacific region, will this move clean up the market or push the crypto industry into a difficult situation?
AUSTRAC Detects "Concerning Signs"
AUSTRAC Detects "Concerning Signs"
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