Crypto ATMs Banned in New Zealand Amid Anti-Financial Crime Reforms
TLDR
- New Zealand has officially banned all crypto ATMs to prevent financial crimes linked to digital assets.
- The government has introduced a $5,000 limit on international cash transfers to strengthen its anti-money laundering efforts.
- Over 221 crypto ATMs across the country will be removed under the new regulatory framework.
- The Financial Intelligence Unit will receive expanded powers to monitor financial activity and track persons of interest.
- A new levy is being considered to support the enforcement of the updated financial crime prevention regime.
New Zealand has banned crypto ATMs and imposed strict limits on international cash transfers. The government aims to curb financial crime and prevent the misuse of digital…
