{"id":35889,"date":"2025-07-09T09:01:48","date_gmt":"2025-07-09T09:01:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=35889"},"modified":"2025-07-09T09:01:48","modified_gmt":"2025-07-09T09:01:48","slug":"new-zealand-wants-to-ban-crypto-atms-in-anti-money-laundering-overhaul","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=35889","title":{"rendered":"New Zealand Wants to Ban Crypto ATMs in Anti-Money Laundering Overhaul"},"content":{"rendered":"<div>\n<p>New Zealand&#8217;s government plans to ban crypto ATMs as part of an overhaul of its anti-money laundering and countering the financing of terrorism (AML\/CFT) regime.<\/p>\n<p>The government wants to target the means criminals use to &#8220;convert cash to high-risk assets such as cryptocurrencies,&#8221; according to an <a href=\"https:\/\/www.beehive.govt.nz\/release\/targeting-criminals-not-kiwi-businesses\">announcement by Associate Justice Minister Nicole McKee<\/a> on Wednesday.<\/p>\n<p>McKee also proposed setting an upper limit of 5,000 new zealand dollar ($3,000) for international cash transfers to make it harder for criminals to move its funds offshore.<\/p>\n<p>The cabinet has introduced a bill to strengthen the police&#8217;s enforcement powers and enable regulators to &#8220;crack down&#8221; on those involved in money laundering, she added.<\/p>\n<p>&#8220;The new approach will deliver more clarity and consistency for businesses while maintaining a strong focus on preventing criminal misuse of the financial system,&#8221; McKee said in Wednesday&#8217;s announcement.<\/p>\n<p>Crypto ATMs allow users to purchase cryptocurrency by inserting cash or a bank card and having crypto delivered to a wallet of their choice. They are somewhat ripe for criminal activity however. Scammers may, for example, advertise goods for sale online, direct their buyer to deposit funds to a specific wallet and then disappear.<\/p>\n<p>As such, they have been subject to stern regulatory oversight in a number of countries, <a href=\"https:\/\/www.afp.gov.au\/news-centre\/media-release\/tapped-out-authorities-target-criminal-use-cryptocurrency-atms-nationwide#:~:text=Tapped%20out%3A%20Authorities%20target%20criminal,nationwide%20action%20%7C%20Australian%20Federal%20Police\">such as New Zealand&#8217;s neighbor Australia<\/a>.<\/p>\n<p>There are around 38,505 crypto ATMS installed worldwide, <a href=\"https:\/\/coinatmradar.com\/\">according to Coin ATM Radar<\/a>, of which over 30,000 are in the U.S. <\/p>\n<p>New Zealand has 221, according to the same site. <\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/policy\/2025\/06\/04\/australia-cracks-down-on-crypto-atm-providers-as-scammers-target-the-elderly\">Australia Cracks Down on Crypto ATM Providers as Scammers Target the Elderly<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>New Zealand&#8217;s government plans to ban crypto ATMs as part of an overhaul of its anti-money laundering and countering the financing of terrorism (AML\/CFT) regime. The government wants to target the means criminals use to &#8220;convert cash to high-risk assets such as cryptocurrencies,&#8221; according to an announcement by Associate Justice Minister Nicole McKee on Wednesday. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-35889","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35889"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35889\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}