New Zealand bans cryptocurrency ATMs, sets transfer caps in anti-money laundering reforms

Odaily News New Zealand has completely banned cryptocurrency ATMs and set a $5,000 cap on international cash transfers to combat money laundering and criminal financing. As part of a large-scale reform aimed at curbing money laundering and illegal capital flows, the New Zealand government announced that it will close all cryptocurrency ATMs in the country and set a $5,000 cap on international cash transfers. New Zealand Assistant Attorney General Nicole McKee announced the governments latest anti-money laundering and counter-terrorism financing reform plan in a statement on Wednesday. (Decrypt)