By PAUL O’DONOGHUE, Senior Correspondent

CANADA plans to ban crypto ATMs as part of a wider effort to tackle fraud and money laundering, the government has announced.

The government’s the Spring Economic Update said the machines have become “a primary method for scammers to defraud victims and for criminals to place their cash proceeds of crime”.

“To protect Canadians, the Spring Economic Update 2026 proposes to ban crypto ATMs,” it said.

The country currently has nearly 4,000 crypto ATMs, the highest number per capita globally.

Crypto ATMs allow users to deposit cash and convert it into digital assets such as Bitcoin. They can then transfer funds to virtual wallets, often with limited identity…