## New Zealand Bans Cryptocurrency ATM Services The New Zealand government has banned cryptocurrency ATM services, aiming to crack down on money laundering and terrorist financing. Decrypt reported that officials believe these ATMs make it easier for criminals to convert cash into volatile assets like cryptocurrencies, bypassing traditional financial controls. ## Strengthening Anti-Money Laundering Measures This ban is a direct consequence of reforms to New Zealand's anti-money laundering and counter-terrorism financing (AML/CTF) system. The government aims to increase transparency and accountability in the digital asset space, making it harder for illicit activities to thrive. The move aligns with global efforts to regulate the cryptocurrency industry and mitigate financial risks. While the impact on the overall crypto market in New Zealand remains to be seen, the ban signals a stricter regulatory approach towards cryptocurrency-related businesses. ```