🔒 Australia tightens the screws on crypto ATMs — elderly users under threat
Who would have thought: 72% of transactions at crypto ATMs are made by people over 50, and almost a third are retirees.
Now:
🚫 Transaction limits have been set
⚠️ Mandatory fraud warnings
🕵️♂️ Enhanced customer checks and monitoring of suspicious activity
🚨 Harro’s Empires has lost its license from AUSTRAC
💸 Cointree has already been fined $75K for late reporting
Regulator AUSTRAC warns: negligence regarding AML is no longer just a risk, but a direct threat to business.
📉 Web3 enters an era of strict regulation — and this is just the beginning.
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