Crypto ATM network shrinks as US loses 1,200 machines in days

The US lost 1,233 cryptocurrency ATMs in early March, just days after a senator proposed a bill to curb fraud in the sector.

More than 1,200 cryptocurrency ATMs mysteriously went offline in the United States during the first weekend of March, just days after a senator introduced the Crypto ATM Fraud Prevention Act to stop crypto ATM fraud.

On Feb. 25, Illinois Senator Dick Durbin proposed legislation to target fraud at crypto ATMs in the US, citing a recent incident involving one of his constituents. His proposal came the same month that 860 new crypto ATMs were installed in the US.

Still, in the first three days of March, the global Bitcoin (BTC) ATM network saw a net decline of 1,100 machines, with the US accounting for 1,233 of those losses. The closures were slightly offset by new installations in Europe, Canada, Spain, Poland, Australia and Switzerland, according to Coin ATM Radar data.

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