Crypto ATM Market to Reach $472 Million by 2028. Uruguay Summons Binance Through Product Offering
The cryptocurrency ATM market is expected to reach $400 million within five years. The current forecast for the global cryptocurrency ATM market is $46.45 million.
The major players operating in the global Crypto ATM Market include GENERAL BYTES (Czech Republic), Genesis Coin (US), Lamassu (UK), COVAULT (US), Bitaccess (Canada), Coinme (US), Coinsource (US), Bitxatm (German), Orderbob (Austria), and RUSbit (Russia).
It is projected to reach $472.18 million by 2028, an increase of 59% based on a compound annual growth rate. Regulatory framework is another important aspect that often hinders the development of cryptocurrency markets. An unpredictable regulatory environment, lack of knowledge about cryptocurrencies and their uses, and lack of technical know-how have had a very negative impact on the crypto space. In another news, the Central Bank of Uruguay has issued a subpoena over a crypto-based savings product offered in the country by Binance, one of the world's largest crypto exchanges. According to the bank, these products can only be offered through banking institutions or fintech companies that issue shares on domestic stock exchanges. Uruguay does not yet have crypto-specific regulations.In a statement, the Central Bank of Uruguay said, "The call to the general public to use savings can only be made through financial intermediaries authorized to collect deposits on the market or as issuers registered in the Stock Exchange Register. can do it," he said.
As of 4:50 p.m., the global cryptocurrency market capitalization had fallen by 3.16% to $1.07 trillion. According to data from Coinmarketcap, global cryptocurrency trading volume fell by 2.7% to $72.67 billion. Bitcoin (BTC), the world's oldest cryptocurrency, has fallen 3.03% over the past 24 hours to trade at $23,088. Ethereum (ETH) dropped 1.17% to $1,654.69.
Among other major coins, Cardano (ADA) dropped 3.91% to $0.5109, Algorand (ALGO) dropped 3.93% to $0.3365, and Solana (SOL) dropped 5. Binance Coin (BNB) fell 2.75% to $284.73. Filecoin (FIL) was the biggest gainer today, rising 12.62% to $9.43. The biggest drop was Bitcoin Gold (BTG), which dropped 11.56% to $29.30.