Canada Hits Record 3,904 Bitcoin ATMs YTD Despite Federal Ban Proposal

Canada's Bitcoin ATM network reached an all-time high of 3,904 machines after adding 176 units year-to-date as of May 4, even as the federal government proposed a nationwide ban on standalone kiosks in its April 28 Spring Economic Update. The ban targets scams and money laundering—citing $704M in 2025 fraud losses ($14.2M via ATMs in 2024)—while preserving access through regulated brick-and-mortar channels; FINTRAC revoked 84 MSB licenses in March. The proposal initially crashed Bitcoin $80K April prediction odds from 76% to 4.5% on thin $54K volume, but operators continued deployments amid uncertainty. BTC trades near $78.7K with neutral technicals.