#noticiascripto 🚨🔥New Zealand bans cryptocurrency ATMs and limits international cash transfers
As part of new changes in anti-money laundering policy, New Zealand has declared a ban on cryptocurrency ATMs. Nicole McKee, the associate justice minister, announced stricter enforcement actions aimed at financial crime.
The government's goal is to stop criminals from converting cash into cryptocurrency assets. Current global data shows 38,537 cryptocurrency ATMs operating in 67 countries around the world.
New Zealand targets cryptocurrency ATM operations under AML reforms
As part of broad anti-money laundering efforts, New Zealand intends to ban cryptocurrency ATMs. Nicole McKee, an associate justice minister, announced the ban on the illegal conversion of cash. The ban aims to prevent criminals from converting physical cash into cryptocurrencies.
The cabinet agreed to introduce legislation that strengthens enforcement powers for police and regulators. The new bill focuses on combating money laundering operations across all financial sectors. A new financial sanctions oversight regime will be established under the reforms.
The government will set a $5,000 upper limit on international cash transfers per transaction. This restriction reduces the ability of criminal organizations to move funds abroad through cash channels. The limit applies to all international money transfer services operating in New Zealand.