🚨 New Zealand Bans Crypto ATMs Over Regulatory Concerns

New Zealand's Financial Markets Authority (FMA) has officially banned cryptocurrency ATMs, citing gaps in regulation and anti-money laundering (AML) risks. The move raises concerns about retail access to crypto and compliance challenges for operators.

The FMA stated that crypto ATMs don’t meet local AML/CFT (Countering Financing of Terrorism) requirements, leaving them vulnerable to misuse. Operators now face potential enforcement actions if they continue services.

This decision follows global scrutiny of crypto kiosks, with countries like Canada and the UK tightening rules. Critics argue it limits easy on-ramps for new users, while supporters say it strengthens financial oversight.

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