Australiathe country home to the third largest Bitcoin (BTC) ATM network, surpassed the Asian continent in terms of the total number of installed cryptocurrency ATMs.
Since the beginning of 2023, Australia has been on a streak of installing cryptocurrency ATMs, rising from fifth to third in January. Data from Coin ATM Radar confirms that the country has maintained the effort to install avenues for the conversion of fiat to cryptos.
Over the past eight months, Australia has been adding Bitcoin ATMs, unlike the main European countries and the United States, which have registered a reduction in the installation of ATMs during this period.
Asia, which includes major economies such as China, Japan, Singapore, and India, is home to 355 cryptocurrency ATMs.which represents 1% of all crypto ATMs installed worldwide. After months of onboarding, Australia registered 364 cryptocurrency ATMs.
Contradicting the rise of cryptocurrency ATMs in Australia, total crypto ATMs installed worldwide showed a steady decline. As Cointelegraph previously reported, in the first two months of 2023, net installed cryptocurrency ATMs worldwide dropped by 412 machines.
Complementing the massive increase in cryptocurrency ATMs in the country, Leaked Internal Documents From Australia’s Treasury Department Revealed That Crypto Legislation Is On The Horizon.
As reported by Cointelegraph, the australian government plans to publish consultation documents in the second quarter of 2023. The move seems plausible, as the Treasury had officially published a token mapping consultation document, which forms the basis of upcoming cryptocurrency regulations.
Consultation open! Today we released the token mapping consultation paper. This consultation is part of a multi-step reform agenda to develop an appropriate regulatory setting for the #crypto sector. Read paper & submit views @ https://t.co/4W2msjhP9B @ASIC_Connect @AUSTRAC pic.twitter.com/OGHuZEGvDp
— Australian Treasury (@Treasury_AU) February 2, 2023
Consultation open! Today we have published the consultation document on token mapping. This consultation is part of a multi-step reform program to develop a suitable regulatory framework for the crypto sector. Read the document and send your comments.
However, final cabinet submissions will reportedly arrive later in the year, meaning that any decision on crypto legislation will be left for 2024.
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