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Woman using ATM machine

Number of Bitcoin ATMs surge, Glen tells US SEC to effect strict rules on Crypto Exchanges

The number of Bitcoin ATMs across the world has hit the rooftop in recent months, in a similar fashion to the token itself.

This rapid surge is majorly fueled by the tremendous rise in cryptocurrency transactions.

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According to May 2021 data from Coin ATM Radar, the total number of cryptocurrency ATMs around the world sits at 19,452.

To put this in perspective, that figure was 4,682 two years ago (May 2019).

It leapt to 7,756 in May 2020, reached 13,953 in January this year and it has continued to soldier on since then.

A large number (16,378) of these Bitcoin ATMs are currently installed in the United States of America.

The figures are also on the uprise in Canada, and most European countries.

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Bitcoin Depot installed 355 new machines in the US last month.

Expert projections and analysts expect the number of Bitcoin ATMs across the world to rise by around 200% before the end of this year.

There’s nothing to suggest that the above prediction will not come about.

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Gary Glenser tells Congress to effect rigid regulations on Crypto Exchanges

Chairman of the US Securities and Exchange Commission (SEC), Gary Glenser is proposing stricter regulations for digital assets exchanges.

The 63-year-old made this submission in his first public session since taking up the mantle as head of the federal regulator.

“Right now these exchanges do not have a regulatory framework at the SEC or at our sister agency, the Commodity Futures Trading Commission,”Gary Glenser explained. 

“Right now there’s not a market regulator around these crypto exchanges and thus there’s really no protection around fraud or manipulation.” 

He did not specify the regulations, instead, he argued that Congress involvement will bring about regulatory transparency.

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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