New Zealand Plans to Ban Crypto ATMs to Prevent Illegal Money Laundering Transactions

New Zealand has announced plans to ban cryptocurrency ATMs to prevent illegal money laundering and terrorist financing. This comes after New Zealand police stated that crypto ATMs have become one of the main money laundering gateways for drug traffickers, and 157 involved crypto ATMs have been found in the country. In addition to banning the use of crypto ATMs, New Zealand has also set a $5,000.00 limit for international transfers to curb the illegal offshore flow of funds. [Foresight News]