Poland in the TOP 10 countries which have the most bitomats
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The boom in digital currencies led to the creation of a dedicated cryptocurrency ATM network. A bitmachine is a physical device that allows people to buy cryptocurrencies using cash and a debit or credit card. Some are two-way. These types of devices also allow people to sell digital currencies for cash.
The U.S. is top on the list of countries with the most bitmachines scoring 7.3 out of 10 on Crypto Head, largely due to its dense and growing network of bit ATMs. As of 2021, there were 17,436 devices for depositing and withdrawing cryptocurrencies across the country.
Canada which is second on the list currently has 1,464 bit ATMs, while the UK, which takes third place, has only 200 such machines. Poland, with 112 bitomats, is seventh in the list, behind Hong Kong and ahead of Switzerland.
One of the concerns about the growing network of cryptocurrency ATMs is that they could be used for money laundering. This became increasingly clear during the pandemic when cross-border shipments between the US and Mexico were shut down and criminals turned to cryptocurrencies to move large amounts of cash across the border. In Vancouver, cryptobank ATMs have also sparked discussions about banning them due to money laundering concerns.
There are no strict regulations on bit ATMs in Poland, but according to the Polish Financial Supervision Authority (KNF), there are also no regulations in the Polish legal system that ban cryptocurrency ATMs. However, companies offering bitomats are subject to AML (Anti-Money Laundering) regulations.
