The federal government’s 2026 Spring Economic Update includes a measure that CARP has been calling for: action on crypto ATM machines that have become a growing tool for fraud targeting Canadians—especially older adults.

CARP has raised concerns about the rapid expansion of these machines in convenience stores, malls, and public spaces across the country. We made it clear in our submissions to the Department of Finance that these machines serve little legitimate purpose for most Canadians and are overwhelmingly being used in scams.

Fraudsters are directing victims to withdraw cash and deposit it into crypto machines, where funds are transferred instantly and are nearly impossible to recover. These transactions bypass traditional safeguards and leave Canadians exposed at the exact moment they need protection.

CARP has consistently argued that there is no place for these machines in Canada in their current form. The risks far outweigh any perceived benefits.

That is why we welcome the government’s decision to move toward banning crypto ATMs as part of its broader anti-fraud strategy. It shows that the government is listening and is prepared to act where there is clear evidence of harm. Removing a known access point for scams will help protect Canadians from losing their savings in minutes.

At the same time, this must be the beginning of a stronger national response to fraud. Criminals are adapting quickly, and protections must extend across the entire system, including financial institutions, telecommunications providers, and digital platforms.

CARP will continue to press for real accountability and enforceable protections to ensure Canadians are not left to fend for themselves.

For now, this is a clear win—and a sign that persistent advocacy can lead to real change.

Check out this news coverage of crypto machine fraud that have become all too common in the USA.

‘