Canada currently has 2,549 Bitcoin ATMs, a 28% increase over last year.
This year, the country has seen the installation of roughly 400 Bitcoin ATMs.
It has been nine years since the first BTC ATM was installed.
Has surged by 28% year on year. The country has 2,549 Bitcoin ATMs, which is second only to the United States.
Canada's rate of Bitcoin ATM installation continues to rise. Sources data currently shows a 28% year-over-year increase. There are 2,549 Bitcoin ATMs in Canada, compared to fewer than 2,000 this time last year.
Since the beginning of the year, Canada has installed roughly 400 Bitcoin ATMs. There were 2,174 ATMs in January 2022, which is remarkable given that this year has been a bearish one. There has also been significant progress in recent quarters.
There were 2,479 ATMs in the second quarter of 2022, and 2,545 in the third quarter. Every quarter, the country sees approximately 100 new Bitcoin ATMs, which is much greater than in most other regions.
The United States is the clear leader in terms of Bitcoin ATM counts, with approximately 34,000 installed across the country. Europe has 1,466, and this figure has been stable for some time, however it recently achieved an all-time high despite MiCA regulations. There are 38,750 Bitcoin ATMs across the world.
Most other countries have considerably fewer Bitcoin ATMs. This could be due to a variety of factors, including restrictions and the hefty fees associated with it.
Bitcoin ATMs have been in operation for nine years
Canada is home to what is thought to be the world's first Bitcoin ATM. On October 29, 2013, just over nine years ago, a coffee shop in Vancouver installed a Bitcoin ATM.
Since then, Bitcoin ATMs have performed admirably, particularly in North America. Although the United States now has the most crypto ATMs, Canada remains firmly in second place.
Even while the consequences of the bear market persist, there are some for Bitcoin ATMs. However, scammers have begun to target these devices as well, prompting US officials to issue a warning against them.
Canada has begun investigating the cryptocurrency market
Canada has also begun to examine legislation governing stablecoins and the broader crypto sector. The federal government intends to hold a public consultation on the cryptocurrency market, stablecoins, and central bank digital currencies (CBDCs). It acknowledged the need to stay up with advancements and launched the consultation on November 3.
Canada has recently increased its oversight of the cryptocurrency sector, adopting a number of punitive actions. The Securities and Exchange Commission issued warnings about unregistered crypto enterprises, and some Canadian companies are being sued for failing to disclose crypto trading fees.
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