Australia has been on a roll lately with its installation of Bitcoin ATMs. In fact, the country has surpassed Asia in the total number of crypto ATMs installed. This is a big deal since Asia is home to major economies such as China, Japan, Singapore, and India.
According to Coin ATM Radar, Australia has consistently added Bitcoin ATMs since the beginning of 2023, climbing up from fifth to third place in January alone. And the trend continues as the country keeps up the effort to install more avenues for fiat-to-crypto conversions.
This is quite different from leading European nations and the United States, which have reported a reduction in ATM installations during the same timeline. So, kudos to Australia for keeping up the pace!
As of now, Australia hosts 364 crypto ATMs, while Asia has 355, representing 1% of the total crypto ATMs installed worldwide.
It’s interesting to note that the total crypto ATMs installed worldwide has shown a consistent decline. In the first two months of 2023, the net cryptocurrency ATMs installed globally reduced by 412 machines.
Leaked internal documents from Australia’s Department of the Treasury revealed that crypto legislation is on the horizon. The Australian government plans to release consultation papers in the second quarter of 2023, which is exciting news.
The move seems plausible as the Treasury had officially released a token mapping consultation paper, forming the basis of upcoming crypto regulations.
However, the final submissions to the cabinet will reportedly come later in the year, which implies that any decisions on crypto legislation will be pushed to 2024.
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