Australia Limits Crypto ATM Transactions to AUD 5,000 in Bid to Curb Scams, Money Laundering

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has enforced a deposit and withdrawal limit of AUD 5,000 (roughly Rs. 2.78 lakh) on transactions processed via crypto ATMs. The agency highlighted that elderly individuals are purchasing cryptocurrencies via cash -- with many falling prey to notorious scams and fraudulent schemes.

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