Cryptocurrency ATMs stopped being installed due to the crisis in the cryptocurrency industry

The number of cryptocurrency ATMs installed around the world is no longer showing rapid growth, due to the decline of the cryptocurrency market. According to Coin ATM Radar statistics, there are 38,538 cryptocurrency ATMs in 77 countries as of September 23.

The distribution of digital currency ATMs began to show a regression in the second quarter of 2022, with the production of machines decreasing by 32%. Thus, in the first quarter of 2022, 2,362 ATMs were manufactured and installed, and in the second quarter — 1,600.

In total, at the beginning of 2022, there were 34,370 cryptocurrency ATMs in the world, but after the first quarter, this number increased to 36,732 units. After the second quarter, there were 37,642 installed ATMs in total. Further, analysts note a significant decline in the distribution of digital currency machines. Experts attribute this to the aggressive regulatory policies of some governments and the strengthening of the fight against illegal financial activities, such as money laundering.

Thus, last week, the White House, headed by President Joseph Biden, presented the first-ever concept of cryptocurrency regulation in the United States. The main points included protecting consumers and investors in cryptocurrencies, promoting financial stability, fighting corruption, improving the economy, and making cryptocurrency transactions accessible to Americans.