Australia Surpasses Asia with Record-Breaking Bitcoin ATM Installations

Australia has shocked the cryptocurrency world by installing hundreds of Bitcoin ATMs. The latest round of installments broke the Asian record for the highest number of installed Bitcoin ATMs. Australia now hosts the third-largest network of Bitcoin ATMs worldwide. We must also note that the recent round of installments eclipses the combined total of Asia. Today, Australia has more Bitcoin ATMs than economic powerhouses such as China, Japan, and India combined. The Asian continent currently hosts 355 crypto ATMs. This represents 1% of the global total, while Australia has reached 364 Bitcoin ATMs, a 1.1% of the global total. For your information, the United States accounts for 84.5% of the global total in terms of installed Bitcoin ATMs.

The beginning of 2023 marked a significant step in Australia’s progress in the crypto industry. In January alone, Bitcoin ATM installments in Australia propelled the nation from fifth to third place. Data from the Coin ATM Radar confirms Australia’s continued commitment to expanding Bitcoin adoption. This comes as the country has consistently added Bitcoin ATMs over the last eight months.

This growth of Bitcoin ATMs in Australia is the complete opposite of what is going on in European countries. When we look at the trends, we see that European countries and the United States experienced a decrease in ATM installations. In fact, the global trend has seen a decline in total crypto ATMs installed.

Australia’s crypto ATM expansion comes as the government shifted its focus towards crypto legislation and advancement. Leaked internal documents from the Department of the Treasury suggest that we will soon see consultation papers. The Australian Treasury had already issued a token mapping consultation paper. This is expected to lay the groundwork for future cryptocurrency regulations.

Australia Keep Working Towards Bitcoin And Crypto Adoption

Despite the anticipated release of consultation papers, we might not see the final submission to the cabinet until the end of the year. This implies that any decision taken this year will likely be followed up in 2024. However the case may be, Australia’s commitment to cryptocurrencies may serve as a blueprint for other countries.

The rapid expansion of Bitcoin ATMs across Australia demonstrates the demand for Bitcoin adoption in the country. Not only that, but it also showcases how willing the government there is to support the growth of the crypto industry. Just like the United States, Australia is continuously working toward the needs of its citizens.