Australia sets $3,250 limit on crypto ATM transactions

Australia’s financial intelligence agency AUSTRAC has introduced new rules for crypto ATM operators, including a cash transaction limit of 5,000 Australian dollars ($3,250), to combat rising scam activity.

Announced on June 3, the updated regulations require enhanced transaction monitoring, stricter customer due diligence, and visible scam warnings at crypto ATMs.

Currently, the rules apply only to crypto ATM providers, but AUSTRAC expects crypto exchanges accepting cash to consider similar limits.

AUSTRAC CEO Brendan Thomas said the measures aim to protect individuals from scams and prevent businesses from being exploited by criminals.

“The conditions are designed to help protect individuals from scams by deterring criminals from directing them to a crypto ATM, as well as to protect businesses from criminal exploitation,” Thomas stated.

The regulations follow a task force investigation launched last September, which reviewed data from nine crypto ATM operators.

The task force found that users over the age of 50 accounted for nearly 72% of transaction value, with scam victims heavily concentrated in the 60–70 age group.

“It is a huge concern that people in this demographic are overrepresented... and that a large number of 60–70 year old users are victims of scam activity,” Thomas added.

Australia sees around 150,000 crypto ATM transactions annually, totaling roughly $275 million in cash used to purchase Bitcoin, Tether, Ether, and other digital assets.

Between January 2024 and January 2025, the Australian Federal Police (AFP) recorded 150 crypto ATM scam cases, with total losses exceeding 3.1 million Australian dollars ($2 million).

AFP Commander Graeme Marshall noted that many victims either don’t realise they’ve been scammed or feel too embarrassed to report it.

“Scammers often use sophisticated tactics... We would encourage people to share their stories to help prevent others from falling victim,” Marshall said.

Australia has become the third-largest market for crypto ATMs globally, with 1,819 machines as of mid-2025, up from just 67 in August 2022.

Major operators include Localcoin with 753 ATMs, Coinflip with 700, and Bitcoin Depot with 182, according to Coin ATM Radar.