Bloomberg: Australia is a world leader in the growth of cryptocurrency ATMs

ChainCatcher news, according to Bloomberg, Bitcoin ATMs are flooding into Australia, making the country the fastest-growing market for these machines, which has also raised questions about the sources of demand for this controversial service. According to Coin ATM Radar data, the United States dominates the market with approximately 32,000 cryptocurrency ATMs, followed by Canada with about 3,000. Australia ranks third with nearly 1,200 cryptocurrency ATMs, up from just 73 two years ago, and more ATMs are under construction.

In a call with analysts in August, Bitcoin Depot Inc. CEO Brandon Mintz stated that the company has over 200 cryptocurrency ATMs in Australia awaiting deployment after regulatory approval. Coin ATM Radar data shows that Australia's recent growth is leading globally. Operators believe these machines promote financial inclusion by providing convenient access to cryptocurrency. However, critics point out the risks of money laundering and potential losses due to fraud against users. Countries like the UK and Singapore have banned these machines, while Germany is conducting crackdowns.