[Australia Plans Legislation to Restrict Cryptocurrency ATMs]
Australian Minister for Home Affairs Tony Burke announced plans to legislate restrictions on cryptocurrency ATMs, describing them as high-risk products associated with money laundering, fraud, and other illicit activities. Data shows that the number of cryptocurrency ATMs in the country has grown from 23 to over 2,000 in six years, with 85% of large transactions involving illegal activities. The new bill will grant AUSTRAC the authority to restrict or ban related devices, and it is expected to be submitted to parliament in the coming months, though a complete ban has not yet been confirmed.