Despite the lack of regulations, Germany is a great example of a jurisdiction that is encouraging adoption of cryptocurrencies. BaFin's new rules require that companies that offer Bitcoin and Litecoin ATMs to obtain a license. This license is required for businesses that provide a financial service such as financial commissions and proprietary trading. It is an infringement of the banking industry to operate an ATM without BaFin's permission.
The number of Bitcoin ATMs in each European country is considered a measure of the popularity of the country. The number of such machines per capita in each country is calculated, taking into account the size of the population. The UK is the eleventh most popular location for digital currency ATMs in Europe, with a total of four. Other popular countries include the Czech Republic, Switzerland, Italy, and Germany. These countries may have more than one ATM each, but the UK has none.
While the amount of bitcoin ATMs in Europe is still small, the number of arrests of criminals using Bitcoin ATMs is increasing. A recent report by the Spanish police suggests that criminal groups are increasingly using these machines as a way to launder money. According to the news report, the EU will soon introduce new money laundering laws that require exchanges to flag suspicious transactions. The new regulations do not apply to independently run Bitcoin ATMs, which are not subject to these regulations.