Australia, a new host country for cryptocurrencies ?
In recent years, Australia has seen a massive adoption of crypto. Australia demonstrates this once again by becoming the fourth largest cryptocurrency ATM center in the world with 219 crypto ATMs available in the country, the country now surpasses El Salvador.
Mis à jour le 01/02/2023 à 16:06
The regulation of cryptocurrencies in Australia is rather strict but remains very open to new web3 technologies. Recently, the country has seen a massive adoption of crypto and is proving it again by becoming the fourth largest cryptocurrency ATM hub in the world, surpassing El Salvador.
Bitcoin : Australia surpasses El Salvador
El Salvador was the first country to adopt Bitcoin as a legal currency, in September 2021 El Salvador’s President Nayib Bukele then decided to install more than 200 cryptocurrency ATMs throughout the country. This allowed the country to be the third largest crypto ATM center at that time, behind the United States and Canada. But El Salvador quickly lost its 3rd place after Spain also adopted the decision to implement crypto ATMs in 2022.
Spain installed 215 cryptocurrency ATMs in October 2022 and now has 226, making it the third largest crypto ATM hub. Despite El Salvador being the first country to adopt Bitcoin as a legal tender, its place as the 4th largest ATM hub will have been short-lived.
Australia installed 99 ATMs in 2022 and registers 219 cryptocurrency ATMs as of January 1, 2023, surpassing El Salvador by 7 ATMs. This makes Australia the fourth largest cryptocurrency ATM center in the world.
Yet Australia is developing a rather strict regulation of cryptos, which does not prevent it from being open to cryptocurrencies and the Web3. Last September, the Reserve Bank of Australia partnered with the Digital Finance Cooperative Research Center to study the possibilities of a central bank digital currency CBDC in the country.
⚠️ This article is published for informational purposes and should not be considered as investment advice. Crypto-currency trading involves risk and it is important not to invest more than you can afford to lose.
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Léa is part of the InvestX team which supports members in their training. She is also a crypto enthusiast who follows the market closely. For the InvestX.fr site, she writes articles to help readers decipher the news and what happens day after day in the world of blockchains.
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