Bitcoin Rises to $77,000 as Canada Proposes Crypto ATM Ban

Bitcoin is highly sensitive to Federal Reserve interest rates and geopolitical risks, while rising oil prices could fuel inflation and delay rate cuts. Canada has about 4,000 crypto ATMs, giving it one of the world’s highest per-capita concentrations. Their anonymity and ease of cash transactions, however, have also made them tools for fraud and money-laundering groups, prompting regulators to move toward a blanket restriction.

As of July 19, Bitcoin had risen to about $77,000 ahead of the Federal Reserve’s interest-rate decision, with buying demand remaining supportive even as tensions in the Strait of Hormuz pushed oil prices higher. Citing data from the Financial Transactions and Reports Analysis Centre of Canada, or FINTRAC, the Canadian government proposed a nationwide ban on crypto ATMs. If enacted, Canada would become the first G7 country to impose a blanket ban.