Crypto ATMs in 2025: Near 40,000 Machines, Soaring Market

December 1, 2025

Crypto ATMs – the physical kiosks that turn cash into bitcoin and other digital assets – are having a paradoxical year.

On one side, the global network of machines is nudging toward 40,000 installed units and analysts project a multi‑billion‑dollar market by the end of the decade. ^[1] On the other, regulators from Washington to Wellington are sharply tightening the rules, and some countries have decided that crypto ATMs are simply too risky to keep at all.

Here’s where the crypto ATM industry really stands as of December 1, 2025 – drawing on the latest news, market forecasts, and regulatory moves – and what it likely means for operators, investors, and everyday users.

What is a crypto ATM, exactly?

A crypto ATM (often called a “Bitcoin ATM” or “crypto kiosk”) is a standalone machine that lets people:

Insert cash and buy cryptocurrency sent to their wallet (one‑way machines), and sometimes
Sell crypto and receive cash (two‑way machines).

Unlike bank ATMs, these devices are usually run by private crypto companies, not banks. They are popular with:

People paid in cash or without easy bank access
Users who don’t want to link a bank account to a crypto exchange
Tourists and migrants sending money abroad

Most machines focus on bitcoin but increasingly support other coins such as Ethereum, Litecoin and Dogecoin. One major industry report notes that one‑way machines still make up about two‑thirds of the installed base, with restaurants, gas stations, convenience stores and other hospitality venues as key locations. ^[2]

The convenience comes at a cost: transaction fees of 5–25% (sometimes more) are common, especially on small cash deposits – a pricing model now under scrutiny in lawsuits and TV investigations. ^[3]

By the numbers: a fast‑growing global network

Global installations are approaching 40,000

Data compiled from Finbold’s Q3 2025 report and sector trackers shows:

On July 1, 2025, there were 38,726 bitcoin ATMs worldwide.
By September 30, 2025, that number had risen to 39,374, a net increase of 648 machines in a single quarter – roughly seven new ATMs a day. ^[4]
More than half of those new machines (386) went to the United States, which had about 30,447 crypto ATMs by the end of Q2. ^[5]

A separate statistical analysis from CoinLaw estimates that by early 2025, there were around 38,000 crypto ATMs globally, with North America hosting over 80% of them. ^[6] Australia and parts of Eastern Europe have been among the fastest‑growing secondary markets.

Interestingly, AARP – citing FBI data – says there are more than 45,000 crypto ATMs nationwide in the U.S. alone, a number that likely reflects a broader set of kiosks and white‑label machines than the more conservative counts from specialist industry databases. ^[7]

Transaction volumes and user behaviour

CoinLaw estimates:

Global crypto ATM transactions in 2025 are approaching $1.4 billion in volume.
Cash‑to‑crypto remains dominant: in Australia, an AML disclosure linked crypto ATMs to about 150,000 transactions and ~A$275 million in deposits annually, with 99% of flows being cash deposits rather than withdrawals. ^[8]
A survey by major operator CoinFlip found 74% of respondents made their first crypto purchase at a kiosk, highlighting their role as an on‑ramp for beginners and the underbanked. ^[9]

Older users are surprisingly prominent. In Australia, customers over 50 account for roughly 72% of crypto ATM transaction value, with those aged 60–70 representing nearly a third. ^[10]

A multi‑billion‑dollar market in the making

Despite regulatory headwinds, nearly every major research house still forecasts blistering growth for the crypto ATM industry:

Grand View Research: Global crypto ATM market estimated at $182.1 million in 2023, projected to reach $5.45 billion by 2030, a CAGR of 63.4% (2024–2030). ^[11]
Fortune Business Insights: Values the market at about $206.6 million in 2024, forecast to climb to $7.58 billion by 2032, a CAGR of roughly 54.7%. ^[12]
Allied Market Research and Spherical Insights publish different absolute numbers but similarly expect growth in the 50–60% annual range through 2030, driven by North American dominance and rapid expansion in Asia‑Pacific. ^[13]
Market Research Future goes even further out on the curve, projecting the market could reach as high as $244 billion by 2035, implying a CAGR of about 56% from the mid‑2020s. ^[14]

Methodologies differ – some focus on hardware sales, others on total transaction revenue – but the direction is consistent: analysts expect the crypto ATM sector to expand by an order of magnitude or more over the next decade, even with tougher compliance.

Why regulators are suddenly obsessed with crypto ATMs

U.S. federal spotlight: FinCEN’s August 2025 notice

The turning point this year was the August 4, 2025 notice from the U.S. Financial Crimes Enforcement Network (FinCEN) on “convertible virtual currency kiosks” – essentially crypto ATMs. The notice warns that:

The FBI’s Internet Crime Complaint Center (IC3) logged over 10,900 complaints mentioning crypto kiosks in 2024, with around $246–247 million in reported losses,
This represents about double the number of complaints and roughly one‑third more losses than 2023, and
These kiosks are heavily used in tech‑support scams, romance scams, government‑imposter schemes and drug‑trafficking cash laundering. ^[15]

FinCEN reminds operators that they are money services businesses under the Bank Secrecy Act, requiring:

Registration with FinCEN
Know‑your‑customer (KYC) procedures
Suspicious Activity Reports (SARs) and currency transaction reports

The agency even asks banks and kiosk operators to use a dedicated SAR key term (“FIN‑2025‑CVCKIOSK”) for suspicious crypto ATM activity, to help law enforcement track trends more easily. ^[16]

AARP and the FBI: older adults carry most of the losses

An AARP‑backed campaign has pushed crypto ATM fraud into mainstream political debate. In a June 2025 press release, AARP highlighted that:

Americans lost more than $246 million to crypto ATM fraud and scams in 2024 alone,
Roughly 11,000 people were affected, and
Adults over 60 accounted for more than 67% of the victims in FBI data. ^[17]

AARP says 11 U.S. states have now passed laws or rules adding consumer protections specifically for crypto ATMs, and more than 20 states have drafted or passed restrictions in 2025, including transaction caps and mandatory warnings. ^[18]

Case study: Washington, D.C. vs Athena Bitcoin

Perhaps the most damning data point this year comes from Washington, D.C.:

In September 2025, D.C. Attorney General Brian Schwalb sued Athena Bitcoin, Inc., one of the largest U.S. operators, alleging that the company profits from scams.
According to the lawsuit, 93% of deposits into Athena’s D.C. machines in the first five months were directly tied to scams.
The median victim age was 71, with a median loss of $8,000; one person allegedly lost $98,000 over 19 transactions. ^[19]

Athena denies the allegations and says it employs “aggressive safety protocols,” including warnings and daily limits, but the case has intensified calls for federal standards on kiosk design, monitoring and fee transparency. ^[20]

U.S. policy: state‑by‑state rules and a new federal bill

State laws: caps, refunds and registration

Driven by AARP and local law enforcement, states are converging on a few recurring tools:

Daily transaction caps:
- Iowa now caps crypto ATM transactions at $1,000 per day, after residents lost more than $20 million in crypto schemes over three years. ^[21]
- Vermont and other states have similar caps between $1,000 and $2,000, especially for new users. ^[22]
Refund rights for new users: Minnesota’s law allows first‑time customers to claim refunds for fraud losses within 14 days, a rare consumer protection in the crypto world. ^[23]
Mandatory registration and warnings: Several states require kiosk operators to register with state regulators, display fraud warnings on‑screen, and maintain transaction logs to help police investigations. ^[24]

The next wave looks tougher. Communities like St. Paul, Minnesota have decided that incremental safeguards aren’t enough:

On November 20, 2025, the St. Paul City Council voted to ban all cryptocurrency kiosks in the city from December 21.
Supporters pointed to FBI figures of nearly 11,000 crypto ATM fraud complaints and more than $240 million in losses last year, and said scams disproportionately hit seniors and low‑income residents. ^[25]

Federal proposal: Crypto ATM Fraud Prevention Act of 2025

At the federal level, Senate bill S.710 – the “Crypto ATM Fraud Prevention Act of 2025” – was introduced in February by Sen. Dick Durbin (D‑IL). The bill’s short title describes its goal: amending U.S. code to “prevent fraudulent transactions at virtual currency kiosks”, i.e., crypto ATMs. ^[26]

So far, the bill:

Has been referred to the Senate Banking Committee,
Has four co‑sponsors, and
Remains at the “introduced” stage, with no committee markup or House companion yet. ^[27]

Even without passage, the bill signals strong bipartisan appetite to standardize protections like transaction caps, warning prompts and KYC/AML obligations nationwide.

Europe: MiCA squeezes anonymity for crypto ATMs

While the U.S. relies on a patchwork of federal and state rules, the European Union is rolling out a single regulatory framework: the Markets in Crypto‑Assets Regulation (MiCA / MiCAR).

Key milestones:

From December 30, 2024, MiCA’s provisions for crypto‑asset service providers (CASPs) began applying, with an 18‑month transition period (to July 1, 2026) for firms already operating under national rules. ^[28]
CASPs – a category that includes crypto ATM operators offering exchange services – must seek authorization, meet capital requirements, and follow strict conduct, disclosure and AML rules. ^[29]

Several analyses this year have warned that MiCA is effectively ending “anonymous” Bitcoin ATMs in the EU:

In many countries, users could historically buy limited amounts of crypto (often up to €990 per day) via ATMs with little or no identity verification.
Under MiCA plus the EU’s updated anti‑money laundering package and “travel rule,” ATM operators are expected to identify customers and record beneficiary wallet information even at lower thresholds, especially for cross‑border payments. ^[30]

Some member states are moving faster than Brussels. Spain and Germany, for example, already treat Bitcoin ATM operators as financial institutions requiring full KYC, and German authorities have seized unlicensed machines and cash as part of enforcement campaigns. ^[31]

At the same time, the European Securities and Markets Authority (ESMA) has warned CASPs not to use their MiCA licence as a marketing slogan, stressing that investor protections under MiCA do not extend to unregulated products often promoted alongside regulated services – a warning that will matter for complex ATM offerings such as on‑ramp to DeFi or unlisted tokens. ^[32]

UK: a de facto ban and the first crypto ATM prison sentence

The United Kingdom has gone further than most major markets.

Since March 2022, the Financial Conduct Authority (FCA) has stated that it has not authorized any crypto ATM operator, meaning all crypto ATMs in the UK are illegal and must shut down. ^[33]
The FCA has since conducted raids on unregistered machines in Leeds, London and other cities with local police, and by 2025 was publicly stating that no Bitcoin ATMs are operating legally in the country. ^[34]

In February 2025, the crackdown produced its first high‑profile test case:

London‑based Olumide Osunkoya was sentenced to four years in prison for operating a network of at least 11 unregistered crypto ATMs between 2021 and 2023.
The machines processed over £2.5 million in transactions, earning him around £500,000 in commission, according to the FCA and court filings. ^[35]

Regulators and compliance experts say the UK now serves as a potential template: crypto ATMs aren’t banned by statute, but regulation and enforcement have effectively shut the market down.

Australasia: AUSTRAC limits, New Zealand bans

Australia: “scams, fraud and other illicit activity”

Australia’s financial intelligence unit AUSTRAC has made crypto ATMs a top priority:

A 2024 task force found that the country’s roughly 1,200–1,800 machines were increasingly used in money‑mule operations, scams and laundering, leading to a dedicated crypto team inside the regulator. ^[36]
In July 2025, AUSTRAC imposed new conditions on all crypto ATM providers, including:
- A$5,000 daily limits on cash deposits and withdrawals,
- Enhanced customer due diligence, and
- Mandatory on‑screen scam warnings. ^[37]
The agency has refused to renew at least one operator’s registration and issued an enforceable undertaking against Cryptolink after finding serious AML failings. ^[38]

AUSTRAC estimates that about 150,000 transactions and A$275 million flow through Australian crypto ATMs each year, reinforcing why they consider the channel “high‑risk” despite its modest size compared with mainstream payments. ^[39]

Their own analysis – echoed in CoinLaw’s statistics – suggests the majority of top‑volume users are not criminals but fraud victims and money mules, including a widely reported case of a woman in her 70s depositing over A$430,000 into crypto ATMs after being targeted by romance and investment scams. ^[40]

New Zealand: outright ban

Neighbouring New Zealand has opted for a full prohibition:

In mid‑2025, the government announced plans to ban crypto ATMs and cap international cash transfers at $5,000 as part of a wide‑ranging AML/CFT overhaul. ^[41]
Officials cited a TRM Labs report showing NZ’s crypto ATM network had exploded from zero in 2023 to more than 150 machines by mid‑2024, briefly making it one of the top 10 markets worldwide. ^[42]
Police argued that crypto ATMs had become “one of the primary money‑laundering tools for drug dealers,” prompting the ban and expanded powers for New Zealand’s financial intelligence unit. ^[43]

By October, Australian media were pointing to the UK and New Zealand as examples of jurisdictions willing to shut down the channel entirely, while Canberra has so far stopped short of a ban. ^[44]

Why people still use crypto ATMs

With so many horror stories, why are more machines still being installed?

1. Cash‑only users and the underbanked
Crypto ATMs remain one of the easiest ways for people who live in a cash economy, or who lack full banking access, to:

Buy crypto for remittances,
Pay suppliers abroad, or
Participate in online commerce.

Market reports consistently point to underbanked and migrant communities as key growth segments, especially in North America, Latin America and parts of Asia‑Pacific. ^[45]

2. Simplicity and immediacy
For many first‑time users, walking up to a kiosk, inserting cash and scanning a QR code feels less intimidating than navigating an online exchange, KYC processes and bank transfers. One survey cited by CoinLaw suggests nearly three‑quarters of users made their first crypto purchase via a kiosk. ^[46]

3. Business incentives
For retailers and gas stations, hosting a crypto ATM:

Generates extra foot traffic,
Provides a revenue share from transaction fees, and
Requires relatively little integration with existing banking systems. ^[47]

As long as there is demand for cash‑to‑crypto services and merchants can earn a cut, the economic pull to deploy new machines remains strong – especially in places where regulators haven’t yet clamped down.

How to use a crypto ATM more safely

For consumers, the story of 2025 is not “never use a crypto ATM,” but “treat it like a high‑risk financial product.”

Regulators and consumer advocates consistently offer similar advice:

Assume any urgent instruction to use a crypto ATM is a scam.
Tech‑support, “your bank account is hacked,” government‑imposter and romance scams frequently end with: “Go to a Bitcoin ATM and send funds now.” Law enforcement says legitimate agencies do not ask people to pay via crypto ATMs. ^[48]
Know the fees before you proceed.
Lawsuits and investigations show some operators charging combined spreads and fees of 20–26% per transaction, particularly on smaller amounts – far higher than most regulated exchanges. ^[49]
Only send crypto to a wallet you control.
Never scan a QR code sent by a stranger or “support agent.” Once funds are in their wallet, recovery is extremely unlikely.
Use smaller test amounts first.
If you’re sending money to a friend or your own exchange account, consider testing a small amount before depositing a larger sum.
Choose regulated operators where possible.
Check whether the operator is registered as a money services business or CASP in your jurisdiction and whether they clearly publish compliance and support contacts.

And above all, if anyone pressures you to deposit cash into a crypto ATM, stop and contact your bank, local police or a consumer protection agency before acting.

What 2026 is likely to bring for crypto ATMs

Looking at the direction of policy and the latest forecasts, several trends seem likely over the next 12–24 months:

From light‑touch to “bank‑grade” AML
Between FinCEN’s notice, AUSTRAC’s conditions and MiCA’s CASP regime, crypto ATM operators will increasingly have to run bank‑style KYC/AML programs, including transaction monitoring, sanctions screening and detailed record‑keeping. Those that can’t afford this may exit smaller markets, even as the largest players consolidate. ^[50]
More transaction caps and cooling‑off rules
States and countries that haven’t yet set transaction limits are likely to copy models from Iowa, Colorado, Vermont, Minnesota and Australia, adding per‑day caps (often $1,000–$5,000) and, in some cases, refund windows for first‑time users. ^[51]
Possible expansion of outright bans
With the UK and New Zealand demonstrating that it’s politically feasible to shut down the channel entirely, more high‑income jurisdictions might decide the fraud risk isn’t worth the trouble – especially if alternative on‑ramps like regulated brokerages and crypto ETNs become widely available. ^[52]
Shift in business models
Operators that survive will likely:
- Emphasize transparent pricing,
- Partner more closely with banks, chain‑analytics providers and compliance vendors, and
- Focus on remittances and underbanked communities where they can argue a clear social benefit to regulators.
Market growth with fewer, more professional players
The consensus from market research is that, in dollar terms, the crypto ATM sector will still grow quickly as long as bitcoin and other digital assets remain mainstream. But the number of operators may shrink as compliance costs rise – a classic pattern seen in other regulated financial sectors. ^[53]

The bottom line

2025 has turned crypto ATMs from a niche curiosity into a frontline policy issue.

Investors and operators see a massive growth story: nearly 40,000 machines worldwide, transaction volumes in the billions, and forecasts of a multi‑billion‑dollar market by 2030–2032. ^[54]
Regulators, prosecutors and consumer advocates see something else: a cash‑to‑crypto pipeline that has become a magnet for scams and money‑laundering, particularly harming older adults and vulnerable consumers. ^[55]

How that tension is resolved will determine whether crypto ATMs become a normalized part of the financial landscape – tightly regulated but widely used – or follow the UK and New Zealand path into effective extinction.

For now, one thing is clear: 2025 is the year crypto ATMs stopped flying under the radar. Anyone building, investing in, or using these machines in 2026 will be doing so under much brighter lights.