The investigation revealed that these machines, which currently operate legally in Canada, have become the main vehicle fraudsters use to get money from scam victims across the country. Canada's financial intelligence agency, FINTRAC, came to that conclusion in a February 2023 analysis of suspicious transaction reports submitted to the agency.
Canada has the most crypto ATMs per capita in the world, but currently has no industry-specific regulations. There are nearly 4,000 crypto ATMs across the country and more than 39,000 around the world.
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