Crypto World News reports that, according to CBC, the Canadian federal government announced in the Spring 2026 Economic Update that it plans to ban cryptocurrency ATMs to protect citizens from scams. The government pointed out that crypto ATMs have become a primary tool for scammers to defraud victims and for criminals to transfer funds. Currently, Canada has nearly 4,000 crypto ATMs, making it the country with the highest per capita ownership. According to an analysis by Canada's financial intelligence agency Fintrac, these machines have become a core channel for money laundering and the outflow of fraudulent funds.

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