New Zealand Bans 220 Crypto ATMs by 2025 to Curb Money Laundering and Drug Trafficking
New Zealand has implemented a nationwide ban on cryptocurrency ATMs, effective July 2025, to combat their use in facilitating illicit activities such as drug trafficking and money laundering. The move, announced by Associate Justice Minister Nicole McKee, is part of broader anti-money laundering (AML) reforms aimed at closing regulatory loopholes. Over 220 crypto ATMs will be shut down, preventing users from converting cash into cryptocurrencies like Bitcoin and Ethereum without stringent verification. The government emphasized that the ban targets criminal enterprises rather than legitimate businesses, with McKee stating the country’s commitment to “making it more difficult for criminals to convert cash into high-risk assets”…
