The number of crypto currency ATMs in Australia is Growing Despite Recent Regulation Changes.
Per Coin ATM Radar (1), there have been a total of 95 crypto currency ATMs deleted from the count across the globe thus far in the new year. Despite this, the number of crypto currency ATM deployments in Australia has exploded.
This is a noteworthy development, particularly when considering that some countries, like El Salvador, have committed to transforming their nation into a regional crypto currency powerhouse. However, there are just 212 crypto currency ATMs in El Salvador, representing barely 0.5% of the total ATMs.
Australia has 219 crypto currency ATMs, giving it a modest lead over other countries and a share of 0.6% of worldwide crypto ATMs.
This is despite the fact that Australia plans to implement stricter rules regarding crypto currencies in the year 2023.
Australia Improving In Face of Restrictions
According to recent reports (2), the Prime Minister of Australia, Anthony Albanese, stated at the end of the previous month that his government is working to improve the supervision of crypto businesses.
Meanwhile, the government is planning to release a consultation document at the beginning of 2023 to establish which types of digital assets will be governed by legal regulation. Additionally, a brand-new custody and licensing system may be on its way shortly.
The administration has begun holding preliminary discussions on the nation's monetary system, and they will continue (3) to do so until February 6, when they will accept feedback.
According to the opinions of several industry experts, the Digital Assets (Market Regulation) Bill 2022 that Senator Andrew Bragg introduced in September might also determine the path that the nation's crypto currency legislation would take.
During this time, the Australian Securities and Investments Commission (ASIC) has been working to improve protections for investor interests by implementing various amendments.
The government filed a lawsuit against one of Finder.com's divisions in December because it provided unregistered financial services linked to crypto currencies.
El Salvador Trailing Behind!
As of the first of the year 2023, the US led the world in the number of crypto currency ATMs with 33,555 installations, controlling 86.9% of the total. Canada finished in second place with a score of 6.6%, and Australia moved up to take the fourth spot previously held by El Salvador. Spain finished in third place in 2022 with 226 automated teller machine installations.
While this is happening, El Salvador continues to make the widespread adoption of Bitcoin a priority, despite incurring large portfolio losses during the crypto currency winter. The nation's schoolchildren are being taught about Bitcoin as part of the standard curriculum in their respective classrooms.
But even Poland is above El Salvador regarding the number of crypto currency ATMs available; Poland has 222 of them. The latter currently sits in the sixth position for the entire year.
Having said that, Coin ATM Radar reports that an average of 6.6 new ATMs are being added worldwide every day. Europe is the second largest continent after North America, accounting for 3.9% of all crypto currency ATMs located across the globe. Asia only accounts for 0.8% of all deployments around the world.