Australia now has more cryptocurrency ATMs than all of Asia combined. The nation contains the third-largest network of Bitcoin ATMs.
Australia jumped from fifth to third in the world in the number of crypto ATMs in operation in only the first month of 2023. The government has continued its push to establish infrastructure for the conversion of fiat currency to cryptocurrencies.
Although the United States and Europe have seen a decline in Bitcoin ATM installations over the last eight months, Australia on the flip side, has seen a steady increase.
Just 355 out of the total number of crypto ATMs in the globe are located in Asia, which includes key economies like China, Japan, Singapore, and India. Australia now has 364, after months of growth.
As the number of cryptocurrency ATMs in Australia increased, the global total consistently decreased.
According to data compiled by news.bitcoin.com, there was a net decrease of 412 cryptocurrency ATMs built worldwide between January and February of 2023.
Leaked internal papers from Australia’s Department of Treasury indicated crypto legislation is on the horizon, complementing the country’s tremendous surge in crypto ATMs.
The report also has it that in the second quarter of 2023, the Australian government will distribute comment documents. This action makes sense in light of the fact that the Treasury has already published a token mapping consultation document that will serve as the foundation for future crypto laws.
But according to reports, the final proposals will be given to the cabinet later this year. This means that any decisions on crypto legislation will be put off until 2024.
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