New Zealand has announced a ban on all crypto ATMs from July 2025 to reduce money laundering and drug trafficking.
Ban on Crypto ATMs in New Zealand
New Zealand has made the decision to ban crypto ATMs from July 2025. This step was announced by Associate Justice Minister Nicole McKee as part of broader reforms to combat money laundering.
Goals and Consequences of the Ban
The main goal of the ban is to hinder criminals from converting cash to cryptocurrency, impacting assets like Bitcoin and Ethereum. Over 220 machines have been shut down, but the government emphasizes that the action targets criminal activity and not legitimate businesses.
Global Context and Potential Changes
The ban in New Zealand aligns with similar measures in other countries aimed at curbing illicit use of cryptocurrencies. However, current data shows no significant changes in the market, highlighting New Zealand's smaller role in the global crypto landscape.
The ban on crypto ATMs in New Zealand reflects a global trend in combating criminal activity associated with cryptocurrencies and may lead to changes in the technological sector.
