# Canada has nearly 4,000 crypto ATMs, the highest concentration per capita in the world.

*fintech · news · 2026-05-02 · CryptoSlate*

## Key points

- Canada plans to ban all crypto ATMs, citing their use as a primary tool for fraud.
- FINTRAC's internal analysis confirmed crypto ATMs remain fraudsters' main method for laundering scam proceeds.
- Some ex-employees allege crypto ATM operators might not be profitable without fraud-related transactions.
- The ban targets unattended cash-to-crypto pipelines, still permitting purchases through regulated businesses.
- Canada's approach is more comprehensive than the UK's and Australia's indirect controls and is a global first.

**Countries:** Canada

[Read the full story on CryptoSlate](https://cryptoslate.com/canada-wants-to-ban-crypto-atms-as-fraud-fears-turn-bitcoin-access-into-a-political-target/)

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