Canada is moving toward a nationwide ban on cryptocurrency ATMs as part of a broader crackdown on financial crime. The proposal was introduced in the government’s 2026 Spring Economic Update, signaling a major policy shift in how authorities regulate digital assets.

Officials have identified crypto ATMs as a growing risk to consumers, particularly as fraud cases linked to these machines continue to rise. The proposed ban would affect thousands of machines across the country, one of the highest densities globally.

Why are crypto ATMs being targeted?

The Canadian government has described crypto ATMs as a primary method used by scammers to defraud victims and by criminals to move…