Australia has been making a conscious effort to host more Bitcoin ATMs since the first months of 2023, moving quickly up the rankings and into third place in January. Data from analyst service Coin Atm Radar confirms that the country is persistently striving to create a means of exchanging fiat money for digital currency.
The number of Bitcoin ATMs in Australia has grown steadily over the past 8 months, compared to Europe and the US, which have seen a decline over that time. Meanwhile, in Asia, where major economies such as Japan, China, Singapore and India are concentrated, 355 cryptocurrency ATMs have been installed (just 1% of the global total). By comparison, Australia has 364 cryptocurrency ATMs installed.
Despite a decline in the overall number of cryptocurrency ATMs deployed around the world, Australia is going against the trend with a huge surge. The Australian Department of Finance reports that they will release advisory documents on cryptocurrency regulation during the second quarter of 2023. They have released an advice document on token matching, and final versions of these documents are expected to be released in the third quarter.
However, it seems likely that any decisions regarding cryptocurrency legislation will be delayed until 2024. Meanwhile, new Bitcoin ATMs continue to be installed across Australia.
