AUSTRAC's new regulations include a cash transaction limit of A$5,000 for crypto ATMs, aiming to protect consumers from scams and enhance compliance measures.
AUSTRAC has enacted regulations limiting cash transactions at cryptocurrency ATMs to A$5,000 to combat scams targeting older users. The agency reported over 150 scams linked to crypto ATMs, resulting in losses exceeding A$3.1 million, urging public vigilance as recovery of funds is nearly impossible.