Canada is planning to ban cryptocurrency ATMs as part of a wider effort to combat fraud and money laundering, officials say.

The proposal, included in the country’s 2026 Spring Economic Update, targets machines that authorities describe as a key tool used by scammers to defraud victims and move illicit funds, News.az reports.

Government officials say crypto ATMs have become a primary method for fraud, allowing criminals to quickly convert cash into digital assets with limited oversight.

Canada currently hosts thousands of such machines, making them a significant focus for regulators seeking to reduce financial crime.

Investigations have shown that the machines are frequently…