Australia, a country that hosts the third largest network of bitcoin ATMs, has surpassed the continent of Asia in the total number of installed crypto ATMs.
Since the beginning of 2023, Australia has been on a rampage of crypto ATM installations, climbing from fifth to third place just in January. Data from Coin ATM Radar confirms that the country has continued its efforts to provide fiat-crypto exchange services.
Over the past eight months, Australia has consistently added bitcoin ATMs, unlike leading European countries and the USA, which have reported a decline in ATM installations during that time.
Asia, which includes major economies such as China, Japan, Singapore, and India, hosts 355 crypto ATMs, representing 1 percent of the total crypto ATMs installed worldwide. After months of additions, Australia has reached 364 crypto ATMs.
In contrast to the growth of crypto ATMs in Australia, the total crypto ATMs installed worldwide have shown a consistent decline. In the first two months of 2023, the net cryptocurrency ATMs installed globally decreased by 412 machines.
Complementing the massive increase in crypto ATMs in the country, leaked internal documents from the Australian Department of Finance have revealed that crypto legislation is on the horizon.
The Australian government plans to release consultation papers in the second quarter of 2023. This move seems likely as the department has officially released a consultation document on token mapping, which forms the basis of upcoming crypto laws.
However, final submissions to the government are reportedly expected later in the year, implying that all decisions regarding crypto legislation will be pushed to 2024.
