PANews July 9 news, according to Decrypt, the New Zealand government is undergoing significant reforms aimed at curbing money laundering and criminal financing. Therefore, New Zealand will stop using cryptocurrency ATMs and set the international cash transfer limit at $5,000. On Wednesday, Deputy Minister of Justice Nicole McKee announced the latest reform plan for anti-money laundering and anti-terrorism financing systems. The government plans to propose new legislation to expand the law enforcement powers of the police and regulatory agencies, allowing financial intelligence agencies to collect more financial data from key individuals and to negotiate funding for the enforcement system. McKee stated that the government is resolute in its fight against crime and will not impose excessive barriers on legitimate businesses, aiming to make New Zealand a place where legitimate business can thrive and criminals find it hard to hide. The reform sets a transfer limit to combat the outflow of criminal funds while ensuring legitimate electronic transfers.