New Zealand Bans #Crypto ATMs and Caps International Cash Transfers at $5,000


New Zealand has announced a complete ban on cryptocurrency ATMs as part of its Anti-Money Laundering regime overhaul.


The government introduced a $5,000 limit on international cash transfers to block criminal fund movement channels.


Associate Justice Minister Nicole McKee said the measures target criminals using crypto ATMs to convert cash into high-risk assets.


More than 220 #crypto kiosks currently operate across New Zealand, according to Coin ATM Radar data.


A government report found that criminals increasingly rely on #crypto ATMs for quick cash-to-crypto conversions for drug payments and fraud.


The Financial Intelligence Unit will receive new powers to demand ongoing information from banks about flagged individuals.


The crackdown follows similar moves by Australia, which introduced a $3,250 cap, and Washington state's Spokane, which banned crypto ATMs entirely.

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July 09, 2025 at 2:12 PM
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