The number of cryptocurrency ATMs in Europe is soaring and has reached a new all-time record. This is happening despite the specter of significant market regulation looming around the corner.
Europe with new record for number of Bitcoin ATMs
Citing data shared by Coin ATM Radar, we can see that the number of cryptocurrency ATMs located in Europe has reached a new record high of 1,459. Juxtaposing it with data from around the world, we can see that this is only a small percentage. Across the globe, as of October 12, 2022, there are exactly 38,604 Bitomats. In the United States alone, there are an impressive number, currently standing at 33,779.
However, it is worth noting that the growth in the number of cryptocurrency ATMs in Europe is very balanced. It is recorded at as much as 10% year-on-year. This is despite the announced EU regulations called MiCA, which could have a significant impact on the sector.
Confusion over MiCA regulations
There is no denying that the European continent is home to a huge number of cryptocurrency users. Those who live within the European Union itself can expect upcoming market regulations. Their scope and nature were unknown for a long time. To date, the final shape of MiCA remains a great mystery. Mainly because the actual position is still being worked out. However, it is beginning to tighten up. The bill is expected to cover several different aspects of the market, including consumer protection, anti-money laundering, and the attitude towards stablecoins.
At the time of this writing, MiCA has preliminary approval from the European Union’s Economic Division. Further work and a final vote is expected to take place later this year.
Leaders of Bitcoin ATM installation in Europe
Speaking of Bitomats themselves, it is worth noting several countries that are currently recording strong growth in this segment. Noteworthy among them is Greece. This country from the southern part of Europe has only 64 devices in use, but they are being used quite intensively. This is due to a strong cryptocurrency community inside the country, as well as thanks to tourism. Visitors to Greece are increasingly turning out crypto-oriented individuals and transferring their wealth via virtual coins.
Interesting developments are also taking place in Austria. This Alpine country, located in the central part of the continent, has recently become famous thanks to a chain of electronics stores called Media Markt. This brand, in 12 locations, decided to install 12 independent cryptocurrency vending machines. There are many indications that there will soon be even more.