Australia Installs 1,359 Bitcoin ATMs

Reading Time: < 1 minute

Australia is emerging as a frontrunner in global adoption of cryptocurrency, largely due to the increasing number of Bitcoin ATMs. With 1,359 machines currently in operation and 29 consecutive months of growth, the country is on track to match Europe’s total of 1,600.

This growth demonstrates Australia’s commitment to improving financial inclusion and promoting access to cryptocurrency. According to data from Coin ATM Radar, Australia has the fastest-growing crypto ATM network in the world as of August 2024.

Operators believe that these machines serve as a crucial link for people to interact with digital assets. However, the rapid expansion of Bitcoin ATMs also presents challenges.

On December 6, 2024, the Australian Transaction Reports and Analysis Centre (AUSTRAC) announced plans to intensify its focus on the cryptocurrency industry by 2025. The objective is to prevent the potential use of Bitcoin ATMs for illegal activities such as money laundering.