Crypto ATM Network: Shrinks as 1,200 Machines Go Offline, UK’s First Criminal Sentence against Illegal Crypto—What’s Next for Digital Cash?

 The Crypto ATM network shrinks as 1,233 machines shut down amid crackdowns. What’s next for digital cash? Let’s find out how regulations are reshaping crypto ATMs!
Around 1,233 Crypto ATMs went offline days after Illinois Senator Dick Durbin proposed legislation targeting Crypto ATM frauds. Meanwhile, the United Kingdom issued its first criminal sentence for running an illegal Crypto ATM network. Why the sudden disruption in crypto ATMs despite stringent regulations and legislation? 

In February 2025, the Illinois Senator introduced the Crypto ATM Fraud Prevention Act to curb the money laundering associated with these machines. A few days after his proposition, the global Crypto ATM network experienced a net decline of 1,233 machines. What caused the decline? What is its connection with the UK’s First Criminal Sentence against Illegal Crypto? Let us probe deep and find answers!

1,233 Crypto ATMs Vanish Overnight – What’s Behind the Sudden Shutdown?

According to Cointelegraph, on March 3, 2025, 1,233 crypto ATMs went offline globally. Of these, 1,100 machines were from the US. The US is home to the world’s largest Crypto ATM Network. As of March 3, 2025, there were 29,731 crypto ATMs in the US. 

How many Crypto ATMs are there worldwide? As of February 2025, there were 38,199 Bitcoin ATMs in the world. These are 3.5% higher than 2024. Around 37,226 are active. Fraudulent machines and scams hindered the growth of crypto ATM ecosystems. Senator Durbin’s proposed bill aimed to address this issue. The shutdown is linked to the new legislation and a prior hand regulation before implementation promising safe crypto transactions!

UK Cracks Down: First-Ever Criminal Sentence for Illegal Crypto ATM Network

The UK’s Financial Conduct Authority sentenced Olumide Osunkoya to four years for illegally operating a crypto ATM network. This news has drawn the interest of netizens, for this is the first criminal sentence against an illegal crypto operation in the UK. 

What is the story behind the sentence? Osunkoya has been operating unregistered crypto ATMs at 28 different locations. He operated the machines through his company GidiPlus. Between 2019 and 2022, GidiPlus processed $3.14 million. However, he failed to ensure that criminals did not use the ATMs for money laundering. Further, Osunkoya transferred the machines under a false name to evade detection.

How the UK’s First Criminal Sentence Sparked a Global Shutdown?

All the recent crypto ATM events are sequential. First came up the UK Criminal Sentence against Osunkoya, which has been running since September. Though the court proceedings were delayed, the increasing popularity of crypto accelerated the closure. 

Seconding the UK sentencing came up the US legislation. The Illionis Government started showing interest in curbing the growing fraudulent activities in the crypto ATMs. Earring global actions against fraudulent Crypto ATMs, the Illinois legislation sprang up! 

The crypto domino effect is everywhere, starting from crypto prices to legislation!! Many Bitcoin ATMs work in a legal grey region, and increased attention might have compelled operators to follow more rigorous rules or stop operations. The crypto industry is under increasing pressure to meet regulatory requirements. 

The future of crypto ATMs remains unknown as governments tighten control of digital transactions; will they adjust to more stringent compliance, or will regulatory assaults keep shrinking the network?  

Wrap-Up: What’s Next for Digital Cash?

With 1,233 terminals closing down in response to more strict rules, the crypto ATM network is transitioning. The recent UK sentencing of Osunkoya for crypto-related fraud emphasizes the increasing demand for openness and adherence. Although these shutdowns could be a blow, they may spur creativity and produce more stable and controlled possibilities, including bank-integrated cryptocurrency services and mobile payment solutions. 

This change shows the development of creative digital finance rather than going down. Rising crypto acceptance will lead to fresh solutions, increasing digital currency availability in a shifting legal environment. 

Robust and secure cryptocurrency ATMs are still developing but at lightning speed!