🇦🇺 Bitcoin ATM Growth Wave in Australia
The number of Bitcoin ATMs in Australia has increased rapidly in the past 2 years, from 73 in 2022 to nearly 1,200 today, putting Australia in the TOP 3 in the world in terms of Bitcoin ATMs, behind only the US with 32,000 and Canada with 3,000.
The reason for the sharp increase in the number of machines is that banks in Australia are very limited in dealing with Crypto exchanges, which forces users to find alternatives such as ATMs. These ATMs allow users to easily convert cash into Crypto or receive cash from selling coins.
However, this activity is also being investigated by governments because of concerns about aiding money laundering criminals. Therefore, Bitcoin ATMs have been banned in the UK and Singapore, while Germany is in the process of cracking down.