<ul data-eligibleForWebStory="false"><li>New Zealand has outlawed crypto ATMs and imposed a $5,000 limit on international cash transfers to combat money laundering and financial crime.</li><li>The ban on crypto ATMs is part of broader Anti-Money Laundering (AML) reforms targeting organized crime and fraud, eliminating over 220 cryptocurrency kiosks.</li><li>Authorities aim to prevent criminals from easily converting cash into cryptocurrencies through these machines for cross-border money transfers in illicit activities.</li><li>Enhanced AML/CFT measures also give the Financial Intelligence Unit increased surveillance powers and mandate banks to report suspicious financial transactions, with parliament reviewing bills to enhance compliance and safeguard the financial system.</li></ul>

Crypto ATMs Outlawed in New Zealand Amid Financial Crime Push

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