New Zealand Targeting Crypto or Criminals? Introduces Ban on Crypto ATMs
New Zealand has announced a complete ban on crypto ATMs, aiming to crack down on crypto-linked financial crime. Also, the government introduced a cap of $5,000 on international cash transfers as part of a broader reform of its AML and anti-terrorism financing framework.
Associate Justice Minister Nicole McKee announced the reforms on June 9, promising to focus enforcement on criminal networks without burdening legitimate businesses.
“We want New Zealand to be one of the easiest places in the world to do legitimate business and one of the hardest for criminals to hide,” McKee said.
221 ATMs in New Zealand to go Offline
The legislation will also expand the powers of police and regulators, giving the Financial Intelligence Unit more…
