Over 1,200 Crypto ATMs Vanish in the US Amidst Regulatory Scrutiny

Over 1,200 cryptocurrency ATMs in the United States mysteriously went offline during the first weekend of March, following Senator Dick Durbin's proposal of the Crypto ATM Fraud Prevention Act on February 25. The US experienced a net decline of 1,233 machines, while the global Bitcoin ATM network saw a decrease of 1,100 machines in the first three days of March, according to Coin ATM Radar data. This decline comes after 860 new crypto ATMs were installed in the US in February. As of March 3, the US hosts 29,731 crypto ATMs, representing 79.9% of the global total. Durbin's legislation aims to combat fraud by requiring operators to warn users of scams and provide law enforcement with tools to track illicit transactions.