Australia Outpaces Asia in Bitcoin ATM Adoption – What's Behind the Surge
Australia has become a hot spot for crypto ATM installations since the start of 2023, rising from fifth to third place in just January alone. In contrast to leading European nations and the United States, which have reported a reduction in ATM installations, Australia has consistently added Bitcoin ATMs over the last eight months. Even Asia, which includes major economies such as China, Japan, Singapore, and India, only hosts 355 crypto machines, representing only 1% of the total crypto ATMs installed worldwide. However, the total number of crypto ATMs installed globally has declined significantly over the same period. Despite this trend, Australia continues to add crypto ATMs at an impressive rate, recording a total of 364 machines after several months of additions. Interestingly, leaked internal documents from Australia's Department of the Treasury suggest that crypto legislation may be on the horizon, with consultation papers set to be released in Q2 2023. The government's official release of a token mapping consultation paper suggests that this move could soon become a reality.