Connect with us

Crypto

Hammer falls on crypto ATMs over scams, laundering

Published

on

Hammer falls on crypto ATMs over scams, laundering

Australian authorities are targeting cryptocurrency ATMs and tightening regulations amid reports of widespread scamming and money laundering.

Anti-money laundering regulator AUSTRAC has refused to renew a crypto ATM operator’s licence and introduced transaction limited and tougher requirements to prevent cybercriminals from using the machines to extract money from victims.

Crypto ATMs allow people to buy cryptocurrency with cash and send tokens to a digital wallet.

Over several months, an AUSTRAC taskforce investigating their use uncovered activity linked to scams, fraud and other illegal ventures, the organisation’s chief executive Brendan Thomas said.

“The taskforce has uncovered disturbing trends which have confirmed that cryptocurrency ATMs are being used for scam/fraud-related transactions,” he said.

Advertisement

Analysis of data from nine crypto ATM providers found most users (79 per cent) were above 50 years old and 29 per cent of users were aged between 60 and 70.

“It is a huge concern that people in this demographic are over-represented as customers using cash to purchase cryptocurrency and, as evidence suggests, that a large number of 60 to 70 year old users are victims of scam activity.”

The Australian Federal Police said Australia’s online cybercrime reporting system had received 150 unique reports of scams using crypto ATMs in 2024, with estimated losses of more than $3.1 million.

While the figure was relatively small compared to the $119 million in total financial scam losses reported to Scamwatch in the first four months of 2025, the AFP believes crypto ATM scam losses are under-reported.

“Intelligence on crypto ATMs suggests everyday Australians are losing significant funds to crypto ATM scams, significantly more than is currently being reported to authorities,” AFP Commander Graeme Marshall said.

Advertisement

“This could be because victims don’t realise they’ve been the victim of a crime, they don’t know how to report scam activity, or they feel embarrassed because they were scammed.”

Australia has the third-most crypto ATMs in the world, behind the United States and Canada, with more than 1800 across the nation and increasing more than 15-fold in two years.

Around $275 million was moved through crypto ATMs nationally in 2024.

AUSTRAC’s new measures, which include tougher diligence obligations, mandatory scam warnings and better transaction monitoring was a flashing red light for the sector, Swinburne University emerging technologies specialist Dimitrios Salampasis said.

Advertisement

Crypto

Cryptocurrency Exchanges Brace for Japan’s New Regulations

Published

on

Cryptocurrency Exchanges Brace for Japan’s New Regulations

Circle Internet Group Inc. stocks have been trading up by 11.22 percent driven by anticipated strategic partnership announcements.

Key Takeaways

  • Japan’s financial watchdog aims to enforce new regulations requiring cryptocurrency exchanges, including Circle Internet, to set aside reserves against liabilities.
  • Circle Internet (CRCL) will disclose its earnings report soon; the anticipated earnings consensus is 18 cents per share.
  • These developments come amid turbulent times in the crypto and tech spheres, with CRCL amongst companies preparing for potential impacts.

Live Update At 12:14:02 EST: On Friday, November 28, 2025 Circle Internet Group Inc. stock [NYSE: CRCL] is trending up by 11.22%! Discover the key drivers behind this movement as well as our expert analysis in the detailed breakdown below.

Quick Financial Overview

Circle Internet, represented by the ticker CRCL, is gearing up for its upcoming earnings announcement. Historically, the company’s financial landscape is marked with ups and downs; notable profit margins are missing, casting uncertainties. Nonetheless, a fresh earnings report might bring rays of hope.

In the recent market, highlights showcase a price range progression with notable volatility—opening at $75.31 and climbing to an admirable $81.48 before settling around $80.8. This showcases the company’s resilience amidst challenges but also hints at possible fluctuations ahead.

Analyzing the financial statements shows that CRCL has key concerns in its profitability ratios. For instance, the company has negative figures in its pre-tax profit and operating margins, revealing the fiscal adversities it grapples with. The gross margin, however, remains robust at 79.4%, signaling efficient production. Despite this upside, its quick liquidity ratios, like the current ratio being 1, indicate limited room to maneuver in crises, necessitating strategic agility in the face of unpredictable economic climates.

Advertisement

Regulatory Changes and Market Dynamics

Japan’s decision to compel cryptocurrency exchanges to hold reserves as a safeguard has undeniably put a spotlight on Circle Internet. This proactive move highlights regulatory bodies recognizing potential risks within the burgeoning world of cryptocurrencies. It is a move that aims to preempt vulnerabilities in the sector, ensuring investor protection and curbing unforeseen financial fallouts, especially in hack-prone digital worlds.

For Circle Internet and other affected companies, this is a time for strategic readjustments and protective measures. The market, already sensitive to any regulatory changes, might oscillate between optimism and caution as this unfolds. CRCL stocks need a careful watch as investor sentiment may shift dramatically based on compliance costs and operational changes that might arise post this regulation.

Discussing the speculative impact of this move requires understanding the swimming tides in financial reservoirs in CRCL’s favor or against it. As news spreads, investor trust in CRCL’s crisis management and innovation capabilities will prove critical.

The Road Ahead

Navigating these new waters, CRCL stands at a critical juncture where trader confidence lies heavily tethered to regulatory compliances and earnings outcomes. As the threads connecting cryptocurrency operations to broader financial safety tighten, adopting proactive strategies and mitigating transactional risks while aligning with regulatory standards becomes indispensable. As Tim Bohen, lead trainer with StocksToTrade says, “I never chase price. The best opportunities allow me to enter on my terms, not when I’m feeling pressured.” This sentiment resonates with the current climate where strategic patience is invaluable.

Circle Internet’s forthcoming earnings announcement is poised either as a reassurance or an escalation point dependent on performance metrics vis-à-vis expectations. News on recent financial commitments will unveil glimpses into upcoming strategic expansions or contractions, bearing a profound influence on market dynamics.

Advertisement

In conclusion, CRCL’s journey ahead is layered with complexities. The aggregation of regulatory actions and corporate disclosures during this defining window will unfurl a robust picture, constraints, and opportunities alike. How Circle Internet maneuvers these nuances will certainly delineate its trajectory and its stakeholder’s fortunes related to it.

This is stock news, not investment advice. StocksToTrade News delivers real-time stock market updates tailored to highlight the key catalysts driving short-term price movements. Our coverage is designed for active traders and investors who thrive in fast-moving markets, with a focus on volatile sectors like penny stocks, AI stocks, Robinhood stocks and other momentum plays. From earnings reports and FDA approvals to mergers, new contracts, and unusual trading volume, we break down the events that can spark significant price action.

Looking to level up your trading game? Explore StocksToTrade, the ultimate platform for traders. With powerful tools designed for swing and day trading, integrated news scanning, and even social media monitoring, StocksToTrade keeps you one step ahead.

Check out our quick startup guide for new traders!

Ready to build your watchlists? Check out these curated lists:

Advertisement

Once your watchlist is set, take the next step and trade with confidence using StocksToTrade’s robust platform. Don’t miss out — grab your 14-day trial for just $7 and experience the edge you need to thrive in today’s fast-paced markets.

Continue Reading

Crypto

Blackrock’s Bitcoin ETF Nears Breakthrough as SEC Weighs Expansive 1M Options Limit

Published

on

Blackrock’s Bitcoin ETF Nears Breakthrough as SEC Weighs Expansive 1M Options Limit
Blackrock’s bitcoin ETF enters a pivotal moment as Nasdaq seeks SEC approval for a 1M-contract IBIT options cap, signaling stronger liquidity, deeper institutional activity, and enhanced transparency across the regulated crypto-linked derivatives market.
Continue Reading

Crypto

Be cautious of cryptocurrency ATMs – Enterprise Media

Published

on

Cryptocurrency ATMs (sometimes known as crypto ATMs or Bitcoin ATMs) are playing a bigger role in scams than ever before. Data from the Federal Trade Commission shows consumers reported over $100 million in losses per year, and there are no signs that it is slowing down. Scammers are capitalizing on the accessibility of these machines, and they are employing tried-and-true […]

Continue Reading

Trending