Australia has edged up a further spot on the list of the world’s largest cryptocurrency hubs, surpassing El Salvador in total numbers of automatic teller machines (ATMs), data has revealed.
The Oceanic country reached 216 ATM by the end of the year, CoinATMRadar found in its most recent figures. Currently the country stands at 225 ATM locations, with the United States, Canada, and Spain topping the list at 33952, 2649, and 273 spots, respectively.
El Salvador, once a leading country for cryptocurrency cashpoints, has slipped two places after Poland and Australia overtook the Central American nation.
According to reports, Australia’s crypto ATM installations consist of 0.6 percent of total units. Globally, the world currently has 38,614 ATMs across locations.
The news comes as Australia steps up its efforts to regulate cryptocurrencies, namely after the FTX scandal which rocked crypto markets worldwide.
Australia’s Treasury recently pledged to develop a plan for regulating digital currencies due to the ongoing bankruptcy, which saw FTX, Alameda Research, and 130 affiliates file for Chapter 11 bankruptcy in mid-November.
Canberra aims to protect investors with the new regulations and has vowed to monitor the ongoing crisis and additional “spillovers into financial markets.”
Sam Bankman-Fried, FTX’s former and disgraced chief executive has been released on $250 million bail and awaits his first hearings on his role in corruption in the company.
Charges against himself, Alameda Research CEO Caroline Ellison, and others, include fraud, misappropriation of funds, and many others.
