- Canada proposes a nationwide ban on crypto ATMs
- Officials call them a major tool for scams and money laundering
- Country currently hosts around 4,000 machines
- Similar restrictions are emerging globally
Government Targets Crypto ATMs
The Canadian government is planning to ban cryptocurrency ATMs, calling them a key tool used in fraud and financial crime.
Officials described these machines as a “primary method” for scammers to target victims and move illicit funds.
Large Market Under Scrutiny
Canada has around 4,000 crypto ATMs, making it one of the largest markets globally. Despite this, the sector has operated with limited regulation.
Even with the proposed ban, users will still be able to buy crypto through licensed financial service providers.
Global Trend of Crackdowns
The move reflects a wider trend. Several regions, including parts of the U.S., Australia, and New Zealand, are tightening rules or banning crypto ATMs altogether.
Authorities are increasingly concerned about how easily these machines can be used for fraud.
Rising Scam Losses
Reports show growing losses linked to crypto ATM scams. In the U.S. alone, fraud tied to these machines reached hundreds of millions of dollars in 2025.
