Based on the materials of the site - By Coincu
Deputy Minister of Justice Nicole McKee announced the ban on cryptocurrency ATMs in New Zealand and the introduction of a $5,000 limit on international money transfers. This measure is part of broader reforms aimed at combating financial crimes.
The policy aims to reduce the outflow of illegal funds while maintaining a business-friendly regulatory environment. These measures are part of the government's intention to combat the financing of criminal activities.
New Zealand bans crypto ATMs to combat crime
Nicole McKee, Deputy Minister of Justice, announced reforms in anti-money laundering on July 9, 2025. The proposed legislation includes expanding the powers of the police and regulatory authorities to combat financial crimes, as well as introducing a tax to strengthen the existing enforcement system.
The reforms will suspend the use of over 220 crypto ATMs and introduce a $5,000 limit on international money transfers. These measures aim to restrict the flow of criminal finances. Despite these restrictions, New Zealand intends to ensure the smooth operation of legitimate businesses, utilizing the experience of unconventional monetary policy of the Reserve Bank.
"The government is serious about fighting criminals, not creating unnecessary bureaucratic hurdles for legitimate businesses... The Cabinet has agreed to introduce a bill to enhance the powers of the police and regulatory authorities in combating money laundering... There will be a cap on international cash transfers ($5,000 per transfer), which will limit the ability of criminal organizations to move funds abroad." — Nicole McKee, Deputy Minister of Justice of New Zealand.
The cryptocurrency community remains cautious, not yet receiving comments from leading figures. Some industry experts point to potential liquidity issues at the local level, as reduced access to ATMs may limit the inflow of digital assets in cash form.
Bitcoin and Ethereum react to regulatory changes
Did you know? Similar bans in Canada and Australia have led to restrictions on anonymous access to cryptocurrencies, which temporarily affected BTC and ETH transaction volumes.
Coincu analysts note that regulation in New Zealand may indirectly affect liquidity in the cryptocurrency market. By limiting anonymous cash transactions through ATMs, authorities aim to prevent illegal funding flows, which could negatively impact stabilized cryptocurrency assets such as USDT.
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