New Zealand has implemented new measures to combat financial crimes, including a ban on crypto ATMs and a limit on international cash transfers.
Ban on Crypto ATMs and Transfer Limit
On July 9, 2025, Associate Justice Minister Nicole McKee announced the ban on over 220 crypto ATMs and the implementation of a $5,000 limit on international cash transfers. These measures aim to reduce the outflow of illicit funds and combat criminal financing. The New Zealand government plans to introduce a bill that will give the police and regulators enhanced powers to fight money laundering.
Reaction from the Crypto Community
The cryptocurrency community remains cautious in light of the new measures. No immediate comments have been made from major industry leaders. Experts highlight potential liquidity issues locally, as reduced ATM access may limit cash-based inflows of digital assets.
Impact on Bitcoin and Ethereum Markets
Previous bans in Canada and Australia led to decreased access to anonymous crypto transactions, temporarily affecting BTC and ETH transaction volumes. As of the time of publication, Bitcoin (BTC) is priced at $108,791.96 with a market cap of $2,163,836,816,589. Over the last 24 hours, BTC has seen a 0.59% rise and a notable 32.37% increase over 90 days, though trading volumes have dropped by 9.06%. Analysts note that New Zealand's regulations could indirectly exert pressure on liquidity in the crypto market.
The introduction of new measures in New Zealand underscores the government's strategic goal of combating financial crimes while challenges for the cryptocurrency sector remain significant.
