The CoinATMRadar service shows that after reaching an all-time high of more than 39,000 units in December 2022, the number of crypto ATMs has been steadily declining. In January 2023, more than 1,500 devices supporting digital coins were closed, which indicated the first signs of a negative trend. In March, there was an even greater decline: in one month, the number of crypto ATMs decreased by almost 3,600 units.
AltIndex associates the reduction of the global network with massive complaints from law enforcement agencies regarding the potentially criminal use of crypto-ATM. Fraudsters could advertise items for sale on sites like eBay, ask buyers to deposit funds into a specific crypto wallet at an ATM, and then disappear with the money, police say.
Earlier, the Financial Conduct Authority of the United Kingdom (FCA) reported the forced dismantling of 26 crypto ATMs that operated in the UK without a license.
Source: Bits
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