According to Decrypt, the Australian Transaction Reports and Analysis Centre (AUSTRAC) has issued a warning to cryptocurrency ATM operators that such devices could be used for money laundering and fraudulent activities. AUSTRAC CEO Brendan Thomas said it is necessary to ensure that cryptocurrency ATM operators have sound risk prevention mechanisms in place. According to Coin ATM Radar data, Australia currently has 1,648 cryptocurrency ATMs, the most in the Asia-Pacific region, including 348 in Sydney, a significant increase from 23 in 2019.