Australia's Bitcoin ATM Growth Nears European Levels

According to Cointelegraph, the number of Bitcoin automated teller machines (ATMs) in Australia has been on a steady rise for over two years, bringing the country's total close to that of Europe. Data from Coin ATM Radar reveals that over the past 29 months, Australia has consistently added Bitcoin ATMs, reaching a total of 1,359 machines. This accounts for 3.5% of all Bitcoin ATMs worldwide, placing Australia third globally in terms of Bitcoin ATM numbers. The data indicates that Australia is nearing the number of Bitcoin ATMs found in Europe, which currently stands at 1,660. Should Australia surpass this number, it will become the third-largest Bitcoin ATM network globally, following the United States and Canada. Despite regulatory challenges, the United States remains the leader in the Bitcoin ATM market, with 31,516 machines, representing 81.3% of the global total. Canada follows with 3,027 ATMs, making up 7.8% of the market. Together, the North American region accounts for over 90% of all crypto ATMs worldwide, while Europe and Oceania each hold about 4%, and Asia has 0.9%. Globally, there are 38,753 Bitcoin ATMs. However, the increase in Bitcoin ATMs has also led to a rise in scams. The United States Federal Trade Commission (FTC) issued a warning on August 26 about the growing number of fraudsters exploiting Bitcoin ATMs for scams, taking advantage of the anonymity and speed of cryptocurrency transactions. The FTC reported that losses from Bitcoin ATM scams exceeded $110 million in 2023. In response, US lawmakers have reached out to major crypto ATM operators, urging them to take measures against fraud, particularly scams targeting the elderly.