The Canadian federal government announced in late April that it plans to ban crypto ATMs. According to the article, Canada currently has the most crypto ATMs per capita and about 10% of the world total at nearly 4,000.
Crypto has struggled to find a consumer use case since the first crypto ATM opened in Vancouver, Canada in 2013. One obvious use case that has emerged has been fraud: giving swindlers a way to quickly separate victims from their money in transactions that are difficult to trace and often impossible to reverse.
If crypto ATMs were an experiment in making it easier to onboard the public into “the future of finance”, they have been a miserable failure.