Canada plans to ban crypto ATMs across the country as part of measures unveiled in the federal Spring Economic Update 2026.
The government says the machine is a major tool used by criminals to defraud victims and sell illegal currency.
“To protect Canadians by closing the first channel for scammers to defraud victims and for criminals to invest their criminal money, the Spring Economic Update 2026 proposes to ban crypto ATMs,” words they read.
There are approximately 4,000 cryptocurrency ATMs operating in Canada, according to figures mentioned in the CBC. This gives the country the highest number of crypto ATMs per capita in the world.
The proposed ATM ban is imposed as a public safety measure. Canadians would still be able to access services through microfinance businesses (MSBs), including purchasing digital assets in a transparent environment, reducing the sector’s exposure to illegal activities.
Meanwhile, Canadian lawmakers are enacting separate laws to ban political campaigns by accepting cryptocurrency donations
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Canada Joins Major Crypto ATM Crackdown
Canada is not the first country to ban cryptocurrency ATMs. The UK Financial Conduct Authority he ordered crypto ATMs will be closed in 2022.
The inspector ruled that no one had registered to work legally. Australia it also extended the monitoring in 2025.
Meanwhile, the United States is dealing with a similar fraud. Americans lost more than $333 million through Bitcoin ATM fraud machines in 2025.
It marked a huge jump from last year’s nearly $250 million. American officials accounted for most of the victims.
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A note Canada Eyes Crypto ATM Ban in Anti-Fraud Crackdown appeared for the first time BeInCrypto.
