New Zealand has introduced a nationwide ban on cryptocurrency ATMs and a cap on cash transfers to curb money laundering activities. These measures aim to prevent abuse of the financial system.
Crypto ATM Ban
As of July 9, 2025, New Zealand has implemented a ban on cryptocurrency ATMs. Associate Justice Minister Nicole McKee stated that this measure is necessary to combat the illegal use of cryptocurrency ATMs monitored by financial intelligence and the police.
Cash Transfer Limit
In addition to the ATM ban, a limit of $5,000 has been imposed on cash transfers. This government decision aims to reduce the capabilities of criminal organizations to launder money and transfer funds abroad.
Response and Potential Consequences
The cryptocurrency community and financial institutions in New Zealand have not yet reacted significantly to the announcement. It is worth noting that the ban could lead to a decline in transaction volumes through traditional channels and an increase in interest in peer-to-peer exchanges. This step is also aligned with similar initiatives undertaken in the UK and Australia.
The introduction of new measures in New Zealand highlights the government's commitment to combatting criminal financing, including money laundering. These changes could significantly alter the local financial landscape.
