- Over 1,200 crypto ATMs in the US went offline in early March, shortly after Senator Dick Durbin introduced legislation targeting crypto ATM fraud.
- Despite the sudden decline, the US remains the dominant market with nearly 30,000 machines, representing 79.9% of global crypto ATMs.
- Global crypto ATM growth has plateaued since mid-2022 amid increasing regulatory scrutiny and crackdowns on unregistered operators.
Cryptocurrency ATMs across the United States suddenly disappeared by the hundreds in early March, coinciding with new legislative efforts to combat fraud. Data shows that 1,233 crypto ATMs went offline in the US during the first three days of March, just days after Senator Dick Durbin introduced the Crypto ATM Fraud Prevention Act.
The mass deactivation occurred shortly after February’s installation of 860 new crypto teller machines in the country. While the US experienced this significant decline, several other countries saw modest growth in their crypto ATM networks, including parts of Europe, Canada, Spain, Poland, Australia, and Switzerland, according to Coin ATM Radar data.
Despite this sudden drop, the United States maintains its overwhelming dominance in the global cryptocurrency ATM landscape. As of March 3, the US hosts 29,731 machines, constituting 79.9% of worldwide crypto ATMs. Canada follows in distant second place with 3,085 units (8.3%), while Australia ranks third with 1,467 machines (3.9%).
The recent closures represent just a small fraction of America’s extensive network, though they highlight potential shifts in the industry’s regulatory environment. Senator Durbin’s proposed legislation aims to protect consumers by requiring ATM operators to implement stronger fraud prevention measures, including mandatory scam warnings for users.
The bill also seeks to establish mechanisms to minimize financial losses and provide law enforcement with enhanced tools to track illicit transactions. Durbin cited a constituent’s recent fraud experience as motivation for introducing the measure.
Global crypto ATM installation data reveals that growth has stagnated considerably since mid-2022. The current worldwide count stands at 37,226 active machines, with expansion slowing primarily due to evolving regulations and intensified scrutiny of unregistered crypto businesses.
The correlation between the ATM shutdowns and the proposed legislation remains unclear, but it underscores the increasing regulatory attention directed toward cryptocurrency infrastructure and consumer protection in the United States.
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