The number of active Bitcoin ATMs worldwide has dropped by 334 machines in under 40 days, with the most significant reductions seen in the US and Europe.
The decline began in June, when 107 Bitcoin ATMs were taken offline, breaking a 10-month streak of monthly increases. The trend continued into July, with 227 ATMs being removed from the network in just five days as of July 5.
While countries like Australia and Spain are expanding their Bitcoin ATM networks, the US and Europe have seen the largest cuts. The US, which has about 82.6% of the world’s Bitcoin and crypto ATMs, saw a loss of 182 ATMs in June and an additional 239 ATMs in the first week of July.
In Europe, 29 ATMs were removed in July, reducing the continent’s total to 1,589 crypto ATMs. Conversely, Australia added 77 new Bitcoin ATMs during the same period.
This decline in crypto ATMs may be linked to increased regulatory scrutiny aimed at combating financial crimes. Agencies such as the US Secret Service’s Cyber Fraud and Money Laundering Task Force have previously investigated Bitcoin ATM operators for their role in crypto-related scams.
Summary Review: The global Bitcoin ATM network has experienced a notable contraction, with 334 machines removed in less than 40 days. This decline, which follows a period of steady growth, highlights a shift primarily driven by reductions in the US and Europe. As regulatory pressures and crackdowns on financial crimes intensify, the future of Bitcoin ATMs remains uncertain, with continued scrutiny likely influencing further adjustments in the network.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
