There are presently 38,725 cryptocurrency ATMs in the world, the bulk of which are found in the United States, according to Coin ATM Radar.

As part of a crackdown on cryptocurrency ATMs, Germany's Federal Financial Supervisory Authority (BaFin) has confiscated 13 of these automated cash kiosks from 35 locations, the government agency said on August 20.

Together with the Federal Criminal Police Office, local law enforcement, and Germany's Bundesbank, the German financial regulator carried out the raids.

Section 32 of the Banking Act states that the ATM operators "illegally installed" the machines and neglected to register them, according to the government office. The Banking Act was allegedly violated by BaFin when euros were exchanged for cryptocurrency or vice versa.
Furthermore, according to German officials, cryptocurrency ATMs in general may become a hub for criminal activity if their owners neglect to implement appropriate Know Your Customer procedures for transactions above 10,000 euros.

Present conditions of cryptocurrency ATMs worldwide
Despite the fact that the total number of Bitcoin ATMs deployed globally in 2024 had been getting close to all-time highs, a drop of 440 crypto ATMs in July upset the upward trend in machine installation. By August 1, there had been a further reduction of 173 ATMs.

The number of crypto ATMs deployed has rebounded, and since the beginning of August, 266 more ATMs have been built, according to the most recent statistics from Coin ATM Radar.

Part of the reason for the July and early August decline of Bitcoin ATMs worldwide was US shutdowns. US law enforcement officials have taken multiple enforcement measures against Bitcoin ATM operators, including Bitcoin of America, even though the precise causes of the shutdowns have changed.

Following an allegation of conducting money transmitter services without a license from the state's Department of Banking, Bitcoin of America agreed to cease operations in Connecticut in 2023.

Following complaints from multiple clients alleging they were conned out of tens of thousands of dollars, the state regulator launched legal action against Bitcoin of America.

The operator of the Bitcoin ATM consented to pay $86,000 in compensation to the affected parties as part of the consent decree.

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