PANews April 29 news, according to CBC reports, the Canadian federal government plans to ban cryptocurrency ATMs to prevent fraudsters from using these machines to defraud Canadians. The Liberal government's spring economic update pointed out that cryptocurrency ATMs are "a primary means for fraudsters to defraud victims and for criminals to place cash proceeds of crime." A CBC investigation last year found that these machines have become a main tool for fraudsters to obtain funds from Canadian victims, and an analysis by the Financial Transactions and Reports Analysis Centre of Canada in February 2023 came to the same conclusion. Currently, Canada has the highest number of cryptocurrency ATMs per capita in the world (nearly 4,000), but there are no specific regulations for the industry yet.

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