Installation of New Crypto ATMs falls to Lowest Level Since 2019

The number of new crypto ATMs installed around the world has fallen to its lowest level since 2019 as the crypto market slows down.

According to Coin ATM Radar, the number of ATMs installed and removed monthly has fallen to 252. At the start of the year, the figure was 1,687.

Crypto slowdown and tightening regulations slow ATM installations

Since the beginning of the year, the trend has been spiraling downwards with figures for Feb and March falling to 757 ATMs and 739 ATMs respectively.

ATM installations hit a peak of 2,037 last Aug as crypto adoption increased, accelerated by El Salvador’s adoption of bitcoin as legal tender.

But recently, tightening regulations have impacted numbers. In March, the U.K.’s Financial Conduct Authority (FCA) shut down all crypto ATMs in the country.

And this week, Belgium has also mandated crypto exchanges and wallet providers, including ATM operators, to register with the Financial Services and Markets Authority (FSMA). 

In terms of global players, the United States tops the chart with the most number of ATMs at 32,973. The U.S. is followed by Canada (2,443 locations), Spain (229 locations), and El Salvador (204 locations).

Meanwhile, as regulatory hurdles slow down crypto ATM additions in other regions, a bitcoin ATM was recently installed in the Senate building of Mexico. This took the total locations of ATMs in the country to over 13.

Meanwhile, when it comes to global players, the United States tops the chart with the most number of ATMs in 32,973 locations. The US is followed by Canada (2443 locations), Spain (229 locations), and El Salvador (204 locations).

Meanwhile, as regulatory hurdles slow down crypto ATM additions in other regions, a Bitcoin ATM was recently installed in the Senate building of Mexico. This took the total locations of ATMs in the North American jurisdiction to over 13.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.