New Zealand aims to ban banking crypto ATMs

July 9, 2025 by Projesh Kar

Security

Photo: Adobe Stock

July 9, 2025

The New Zealand government announced plans to ban crypto ATMs. This is part of its overall anti-money laundering and countering the financing of terrorism goals, according to a report by Coindesk.

Associate Justice Minister Nicole McKee claimed that these devices are heavily used by criminals to turn cash into cryptocurrency. He is also proposing setting a $3,000 limit for international cash transfers.

Crypto ATMs have receivednegative attention from other localities and governments due to their popularity amid scammers.

New Zealand currently has 221 crypto ATMs in operation.

Projesh Kar

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