Australia has emerged as a leader in the adoption of Bitcoin Automated Teller Machines (ATMs), with the country now hosting the third-largest network of crypto ATMs worldwide.
Surpassing the entire continent of Asia, Australia has installed more crypto ATMs than major economies such as China, Japan, Singapore, and India combined.
According to data from Coin ATM Radar, Australia has been on a crypto ATM installation spree since the beginning of 2023, climbing from fifth to third in January alone.
Over the last eight months, the country consistently added Bitcoin ATMs, unlike leading European nations and the United States, which reported a reduction in ATM installations during that timeline.
Contrary to the global trend, Australia’s crypto ATM growth has been significant, with the country recording 364 crypto ATMs, as compared to Asia’s 355 machines, representing just 1% of the total crypto ATMs installed worldwide.
The leaked internal documents from Australia’s Department of the Treasury reveal that crypto legislation is on the horizon, which complements the country’s massive increase in crypto ATMs.
As reported by Cointelegraph, the Australian government plans to release consultation papers in the second quarter of 2023. This move seems plausible as the treasury had officially released a token mapping consultation paper, forming the basis of upcoming crypto regulations.