New Zealand bans cryptocurrency ATMs and sets transfer limits in anti-money laundering reforms

New Zealand has comprehensively banned cryptocurrency ATMs and set a limit of $5,000 on international cash transfers to combat money laundering and crime financing. As part of a large-scale reform aimed at curbing money laundering and illegal financial flows, the New Zealand government has announced that it will close all cryptocurrency ATMs in the country and set a $5,000 limit on international cash transfers. New Zealand's Assistant Minister of Justice, Nicole McKee, announced the government's latest anti-money laundering and counter-terrorism financing system reform plan in a statement on Wednesday. (Decrypt) [Odaily Planet Daily]