Deep Tide TechFlow News, July 9, according to Decrypt, the New Zealand government announced a complete ban on cryptocurrency ATMs and set the international cash transfer limit to $5,000 as part of regulatory reform measures to combat money laundering and criminal financing.

New Zealand's Deputy Minister of Justice, Nicole McKee, stated that the government will introduce new legislation to expand the enforcement powers of police and regulatory agencies, and allow the financial intelligence unit to collect a broader range of financial data on suspicious individuals.

It is reported that New Zealand currently has 221 cryptocurrency ATMs. Janine Grainger, co-founder of local cryptocurrency exchange Easy Crypto, supports this move, believing it signifies the maturity of the industry rather than its collapse.