1,200+ Crypto ATMs Vanish in the U.S.

More than 1,200 cryptocurrency ATMs mysteriously went offline across the U.S. during the first weekend of March, just days after Illinois Senator Dick Durbin introduced the Crypto ATM Fraud Prevention Act.

The sudden drop comes at a critical time, as the crypto ATM industry faces increased regulatory scrutiny and rising fraud concerns.

🛑 What’s Behind the Crypto ATM Shutdown?

🔹 On Feb. 25, Senator Dick Durbin proposed legislation aimed at preventing fraud at cryptocurrency ATMs.
🔹 His bill followed a high-profile scam involving one of his constituents, further intensifying calls for regulatory oversight.
🔹 Coinciding with his proposal, 860 new crypto ATMs were installed in the U.S. in February.

Yet, within the first three days of March, a net decline of 1,100 Bitcoin ATMs occurred globally—1,233 of which were from the U.S. alone.

📉 The Impact on the U.S. Crypto ATM Network

Despite the closures, the U.S. remains the global leader in crypto ATMs.

🔹 Total U.S. Crypto ATMs as of March 3: 29,731
🔹 Global Market Share: 79.9% of all crypto teller machines worldwide
🔹 Top 3 Crypto ATM Countries:

• 🇺🇸 United States: 29,731 ATMs (79.9%)
• 🇨🇦 Canada: 3,085 ATMs (8.3%)
• 🇦🇺 Australia: 1,467 ATMs (3.9%)

While the U.S. still dominates, the recent decline signals an ongoing struggle between regulatory changes and the crypto ATM industry.

⚖️ Senator Durbin’s Crypto ATM Fraud Prevention Act

Durbin’s proposed legislation seeks to curb fraudulent activity while giving law enforcement more oversight.

🔹 Requires crypto ATM operators to warn users about scams before transactions.
🔹 Introduces fraud prevention measures to minimize financial losses.
🔹 Empowers law enforcement with tools to track illicit transactions.

Durbin’s push comes amid a growing crackdown on unregistered crypto ATM businesses, which have been linked to money laundering, fraud, and scams.

💡 The Bigger Picture: Crypto ATMs Face Regulatory Uncertainty

The crypto ATM industry has faced stagnation since mid-2022, largely due to:

✅ Evolving regulations that demand stricter compliance
✅ Crackdowns on unregistered ATM operators
✅ Growing concerns over scam-related losses

With Durbin’s bill gaining traction, the crypto ATM sector may face even more regulatory barriers—potentially reshaping the industry’s future in the U.S.

The big question remains: Were these ATM shutdowns preemptive moves by operators fearing new regulations, or is there a larger industry shift at play?

For now, the industry—and its users—are waiting to see what happens next.