Payment News
Canada Looks to Ban Crypto ATMs
The Canadian government is planning to ban Canada’s estimated 4,000 crypto capable ATMs after concluding that they are being used by scammers to defraud users.
Canada has the most crypto ATMs per capita of any country but does not have any industry-specific regulations governing them. Canada’s financial intelligence agency, Fintrac, concluded in 2023 that the ATMs had become a major vehicle for fraudsters to get money from scam victims.
Atlantic Rift Over the Future of Stablecoins
At the Dubrovnik Economic Conference, Christopher Waller of the Federal Reserve Board of Governors said the growth in the use of dollar-backed stablecoins could enhance the global influence of US monetary policy, describing stablecoins as being payment tools, ‘neither evil nor dangerous,’ and only bringing competition to the payment sector.
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