New Zealand Bans Crypto ATMs to Combat Money Laundering
2025-07-09 08:20:57
Main Idea
The New Zealand government has banned crypto ATMs and capped international cash transfers at $5,000 to combat rising financial crimes and ensure compliance with anti-money laundering (AML) and combating terrorism financing (CFT) regulations.
Key Points
1. New Zealand has banned crypto ATMs and set a $5,000 cap on international cash transfers to address money laundering concerns.
2. Associate Justice Minister Nicole McKee emphasized the government's commitment to enforcing AML and CFT regulations in businesses.
3. The government aims to make New Zealand the most secure region for crypto trading by reducing unnecessary regulatory barriers while focusing on serious threats.
4. Janine Grainger, co-founder of Easy Crypto, supported the ban on crypto ATMs, aligning with efforts to enhance financial security.
Description
The post New Zealand Bans Crypto ATMs to Combat Money Laundering appeared first on Coinpedia Fintech News Due to rising financial crimes, the New Zealand government took a bold step to ban crypto ATMs and cap international cash transfers at $5,000. As the officials noted that crypto kiosks mainly attract users seeking anonymity to covert illegal funds, the industry leaders supported the government’s decision to ban Bitcoin banks. New Zealand Government’s Strict Action on Money Laundering Associa...
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