Australia Adds 1,359 Bitcoin ATMs, Closing in on Europe

• Australia’s Bitcoin ATM count reaches 1,359, growing steadily for 29 months, nearing Europe’s total of 1,660.
• AUSTRAC plans to monitor Bitcoin ATM operators closely in 2025 to prevent misuse for money laundering.

Australia is strengthening its position as a global leader in cryptocurrency adoption, thanks to a rising number of Bitcoin ATMs.

Australia is fast nearing Europe’s total of 1,600, with 1,359 machines running, 29 consecutive months of continuous expansion underlined by This steady growth shows the nation’s dedication to improving financial inclusion and giving greater access to cryptocurrency.

By August 2024, Coin ATM Radar data showed Australia as having the fastest-growing crypto ATM network worldwide. Operators contend that kiosks allow people to easily interact with digital resources, acting as a bridge.

AUSTRALIA’S BITCOIN ATM BOOM CONTINUES, 29 MONTHS STRONG!

Australia’s been stacking Bitcoin ATMs, with 1,359 machines now, almost catching up to Europe’s 1,660 (but who’s counting?).

They’ve been on a non-stop streak for 29 months, which is wild.

The US is still dominating,… pic.twitter.com/9iJEZ41HVz

— Mario Nawfal’s Roundtable (@RoundtableSpace) December 29, 2024

AUSTRAC’s Plan to Address Bitcoin ATM Risks 

Still, the fast spread of Bitcoin ATMs presents certain difficulties. The Australian Transaction Reports and Analysis Centre (AUSTRAC) revealed intentions to sharpen its concentration on the cryptocurrency industry in 2025 on December 6, 2024.

The main objective is to reduce the possible use of Bitcoin ATMs for illegal operations, including money laundering. AUSTRAC wants to create a special task force to keep operators under observation and guarantee adherence to Anti-Money Laundering (AML) rules.

On the other hand, over 600 Bitcoin ATMs closed globally in the first two months of Q3 2024; the United States led the crackdown in this regard. Authorities said that the main causes of these closures include rising criminal activity like money laundering and fraud.

The U.S. actions follow concerning numbers from 2023, when more than ten times the amount reported three years previously was lost via Bitcoin ATM-related scams, topping $110 million.

Losses exceeding $65 million persisted in this alarming trend during the first half of 2024. Scammers especially target older people by using the anonymity of crypto transactions, therefore abusing their vulnerability.