Key Takeaways
- The global crypto ATM network has dwindled to 27,358 machines, a level not seen since 2021, with 587 disappearing since July 8.
- The U.S. accounted for 476 of those removals, yet it still commands 71.4% of the world’s crypto ATMs.
- With 35 states passing crypto ATM legislation since 2023, the debate over fraud prevention and outright bans is far from settled.
Crypto ATM Network Shrinks as U.S. Removes Hundreds of Machines
In the first week of July, Bitcoin.com News reported that the global number of crypto ATMs had declined by 10,763 machines. Since then, coinatmradar.com records show that 587 machines have been removed, and presently, there’s a total of 27,358 crypto ATMs worldwide. Crypto or bitcoin ATMs are basically like traditional automated teller machines, but instead of dispensing cash, they dispense crypto assets for a fee.
Coin ATM Radar or coinatmradar.com is an online directory and map of cryptocurrency ATMs worldwide and it tracks the number of machines globally. Out of the 587 machines lost since July 8, 2026, a majority took place in September. Meanwhile, Coin ATM Radar’s geographic distribution data reveals that 476 of those machines were removed from locations across the United States.
Statewide Bans Reshape the U.S. Crypto ATM Industry
The biggest driver behind the crypto ATM losses in the U.S. is the fact that several states have outright banned them. A total of 35 states have enacted legislation related to crypto ATMs and kiosks since 2023. Indiana has banned them, machines are also prohibited in Tennessee and Minnesota. Politicians in these states believe that crypto ATMs lead to fraud and scams.
Vermont took a different approach, extending a moratorium on new kiosks rather than banning existing ones. Other losses in the crypto ATM industry, prior to September’s rout, stemmed from Bitcoin Depot’s Chapter 11 bankruptcy. Despite the losses in the U.S., it is still the leading region in terms of the number of machines worldwide. According to Coin ATM Radar’s geo records, the U.S. accounts for 71.4% of all crypto kiosks worldwide.
Canada ranks second with a 13.5% share, followed by Oceania at 7%, almost entirely concentrated in Australia (6.3%) and New Zealand (0.7%). Europe represents 5.6% of the global total, with Poland (1.1%) and Spain (1%) leading the region. Collectively, the U.S., Canada and Australia account for approximately 91% of all crypto ATMs worldwide.
Fraud Prevention or Regulatory Overreach?
For many observers, the crackdown on crypto ATMs represents a troubling case of regulatory overreach. Although concerns about fraud may be justified, outright bans penalize legitimate users and inhibit innovation. Critics argue that such prohibitions could drive crypto activity underground, where oversight is weaker and consumers face even greater risks.
A measured regulatory approach rather than outright prohibition could better serve the public, although some states evidently see things differently.
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