Australia's Interior Minister Tony Burke has announced new regulations to tighten the management of cryptocurrency ATMs, deemed "high-risk" due to money laundering, fraud, and child exploitation concerns. The number of these machines surged from 23 to 2,000 in six years, complicating cash-based crypto purchases. AUSTRAC reports that 85% of transactions from top users involve fraud or money laundering. The government is drafting laws to allow AUSTRAC to restrict or ban such high-risk products, though a full ban is not yet determined. Experts argue that risks linked to crypto ATMs are no higher than those associated with banks or casinos, advocating for collaborative monitoring efforts.