is now the world’s fourth largest cryptocurrency ATM hub
According to information provided by CoinATMRadar, an online analytics firm that tracks the total number of cryptocurrency ATMs worldwide, Australia surpassed El Salvador to fourth place as the world’s largest cryptocurrency ATM hub
The sudden shift came as Australia installed 99 cryptocurrency ATMs across the country in the fourth quarter of 2022.
At the time of writing, Australia has 216 cryptocurrency ATMs.
Not only Australia, but Poland has also outperformed El Salvador in terms of the number of cryptocurrency ATMs where it has been able to install 222 cryptocurrency devices.
The United States tops the list of countries with most cryptocurrency ATM installments, and its attitude towards cryptocurrencies has become more cautious as a result of past cryptocurrency-related problems.
Canada and Spain remained second and third respectively.
Overall, the total number of such machines worldwide reached an all-time high of 40,000.
Australia and cryptocurrencies:
Just a few weeks ago, Australia committed to establishing a framework for regulating and licensing cryptocurrency providers in 2023 as part of its aspiration to modernize its financial system.
According to the statement, one of the following actions that the Government will do is to develop appropriate storage and protection arrangements for consumer protection.
The country’s Treasury Department announced in August that it would prioritize arranging and clarifying the functioning of cryptocurrencies.
This requires disclosure of the features of all digital currencies in Australia, including tracking the type of cryptocurrency asset, its base code and any other technical feature.
The consultation document was published at the same time as a strategic plan for Australia’s payments system, which is due to be published in the first quarter of 2023.
The advisory paper also discusses a variety of cryptocurrency ecosystem components, such as digital portfolios, stablecoins and cryptocurrencies issued by central banks.
Responses to the document are open until 6 February 2023.
This also includes a study of the Australian Central Bank’s digital currency policy, which includes consideration of the economic, legal, regulatory and technical aspects of holding a digital currency for the Australian Central Bank.
The CBDC program is expected to be completed by the RBA by mid-2023.
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is now the world’s fourth largest cryptocurrency ATM hub
is now the world’s fourth largest cryptocurrency ATM hub