Canada ranks first in the number of crypto ATMs per capita with almost 4,000 machines running across the country, from Halifax to Vancouver, and, according to the nation's own financial intelligence unit, its leading role has come with a price namely, the suffering of scam victims throughout the country.

Analysis of suspicious transactions conducted by Canada's FINTRAC, a financial intelligence agency, in February 2023, crypto ATMs have become the preferred tool for scammers who steal and transfer funds from scam victims in Canada.

Canada finds itself in a difficult situation: not only does the country have more of such machines per capita than anywhere else in the world, but it does so without any regulatory framework for........

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