Asia has yet to catch up with Australia as its total Bitcoin ATMs represent only 1% of all Bitcoin ATMs worldwide.
Australia’s constant drive to install Bitcoin ATMs has continued as it surpassed the entire Asia by a huge margin. Asia only has 355 installed such ATMs, which comprises only 1% of the entire world’s Bitcoin ATMs. In January, Australia climbed from fifth to third on the ladder board of countries with the most such ATMs.
Australia has taken the initiative to install more Bitcoin ATMs for nine months, while Europe and America have faced a reduction in their numbers. But unlike the bright spot in Australia, these ATMs globally have only reduced in recent times.
The crypto industry in Australia is witnessing more positive developments as the country plans to release consultation papers for crypto regulation in the second quarter of 2023. In February, the Treasury had already released token mapping consultation papers that stated, “Australia is already home to a thriving community of crypto ecosystem businesses, including network infrastructure providers, code auditors, trading platforms, online gaming companies, and software engineers. If the crypto ecosystem matures and develops, it could open significant new opportunities for businesses and consumers alike, creating jobs and fostering innovation.”
Though it is an improvement in Australia’s efforts to regulate crypto, the actual regulations may take some time to implement, probably by 2024. For now, Australia’s position as one of the top countries to install these ATMs has received a favorable response from the crypto community, and it may lead to better opportunities for crypto in the country.