<ul data-eligibleForWebStory="false"><li>New Zealand is planning to ban cryptocurrency ATMs and impose restrictions on overseas cash transfers as part of a crackdown on financial crime.</li><li>The country's associate justice minister, Nicole McKee, announced these measures to strengthen enforcement powers against money laundering and terrorism financing.</li><li>The proposed bill aims to introduce a financial sanctions supervisory regime, limit international cash transfers to $5,000 per transfer, and ban crypto ATMs to curb criminal activities.</li><li>Cryptocurrency ATMs have faced scrutiny globally for being used by scammers to defraud consumers, prompting authorities in various countries, including the U.S. and the U.K., to take actions against illegal operations and money laundering schemes.</li></ul>

Crypto ATM Ban Proposed in New Zealand Financial Crime Crackdown

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