Crypto Crackdown: New Zealand Shuts Down ATMs in Bold Move Against Money Laundering!

Jakarta, Pintu News – The New Zealand government recently announced a new policy that bans the use of crypto ATMs and limits international money transfers to $5,000.

This step was taken in an effort to combat money laundering and other financial crimes.

Nicole McKee, Minister of Associate Justice, emphasized that this policy aims to narrow the space for criminals to manage their illegal funds.

Expansion of Legal Power and Supervision

The New Zealand government, through Nicole McKee, announced plans to expand the regulator’s law enforcement and oversight powers. This includes enhancing the capabilities of the Financial Intelligence Unit (FIU) in tracking suspicious financial activity.

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The policy is expected to tighten supervision of financial transactions involving cryptocurrencies and limit the ability of criminals to illegally utilize the financial system.

The government also plans to cut unnecessary red tape, making it easier for legitimate businesses to thrive. Meanwhile, the main focus remains on serious financial threats, hoping to improve the security of financial transactions in the country.

Restrictions on Crypto ATMs and International Money Transfers

Crypto ATMs, which allow the purchase of digital currencies with cash, have been identified as a key tool in money laundering. Therefore, the New Zealand government decided to completely ban the use of crypto ATMs.

This move is supported by a report from the Ministerial Advisory Group on Transnational, Serious and Organized Crime which found that these kiosks are often used to send funds overseas within minutes.

In addition, by limiting international money transfers to a maximum of $5,000, it is hoped that it will limit the ability of criminal groups to move illegal funds overseas.

These restrictions not only reduce the risk of money laundering but also maintain legitimate remittance options through electronic bank channels.

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Support from Industry and Society

Janine Grainger, co-founder of New Zealand-based crypto trading platform Easy Crypto, applauded the government’s decision.

According to the company, this move will enhance customer security and ensure regulatory compliance. Many other industry leaders also support this crackdown, seeing it as a necessary step to end crypto crime as a whole.

The New Zealand government is ambitious to make its territory the safest place for legitimate crypto trading. By implementing stricter laws, it hopes to make the region one of the most difficult for criminals to hide in.

Overall, this new policy marks an important step in New Zealand’s efforts to combat financial crime.

By restricting the use of crypto ATMs and tightening oversight of international money transfers, the government hopes to cut off a vital pathway often used by criminals to manipulate the financial system.

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Reference:

• Coinpedia. New Zealand Bans Crypto ATMs to Combat Money Laundering. Accessed on July 10, 2025
• Crypto News. New Zealand Announces Crypto ATM Ban in Push to Combat Financial Crime. Accessed on July 10, 2025