Key Takeaways
- Crypto ATMs continues to increase globally
- Poland eight on the crypto ranking global rankings
- Concerns remain about the operations of crypto ATMs.
The report quotes data from the analysis firm Crypto Head which ranks the top countries globally. As expected, the United States leads the chart as several companies are in competition to install crypto ATMs. It represents more than 60% of the total ATMs globally, with over 17,000 ATMs that support crypto deposits and withdrawals.
According to the report, Canada is a distant second with less than 2000 ATMs, and the UK rounds the top three with 200+ ATMs. Coin ATM Radar, an analysis platform that tracks the number of crypto ATMs, has a total number of ATMs globally at 23,300.
Poland ranks eighth on the rankings with 83 installed ATMs. Thie European nation is followed by neighbors Romania which has 78 ATMs.
It is understood that the rise of crypto ATMs have regulators concerned about the legitimacy of their operations. In addition, cryptocurrencies have been accused in the past of facilitating money laundering and financial crimes.
Currently, there are no regulations that prohibit the installation of crypto ATMs in Poland. Operators are also subjected to laws regarding Anti-money laundering and KYC. Nevertheless, a broader debate about the merit of crypto ATMs continues.
Authorities in the US believe that the cartel used crypto in Mexico to launder money during the Covid-19 crisis. It remains to be seen whether these concerns result in restrictions that could hamper the growth of crypto ATMs globally.
Do you think crypto ATMs can increase adoption.
