The New Zealand government recently announced a complete ban on the operation of cryptocurrency ATMs as one of the core measures in its reforms of the anti-money laundering (AML) and counter-terrorism financing (CFT) systems.

Deputy Attorney General Nicole McKee emphasized in a statement on July 9 that this move aims to cut off a key channel for criminal organizations to convert illegal cash into digital assets.

Data shows that New Zealand currently operates 221 cryptocurrency ATMs, ranking eighth globally, and these devices will now become the focus of regulation.

This ban is not an isolated action, but an important component of a package of financial regulatory reforms. According to the new regulations, international cash transfers will also be limited to $5,000 per transaction to curb the cross-border flow of large amounts of illegal funds.

Attorney General McKee pointed out that the government is committed to creating a "smarter and more flexible" regulatory system. This system aims to simplify the regulatory burden on compliant businesses while empowering financial intelligence agencies to obtain more comprehensive transaction background information for precise enforcement. This strategy aims to balance financial security with commercial competitiveness.

From an international perspective, New Zealand's policy adjustments are highly synchronized with global regulatory trends. Germany confiscated $28 million from illegal encryption ATMs in 2024; several states in Australia and the United States have also implemented similar restrictive measures. These cases provide valuable regulatory experience for New Zealand.

It is noteworthy that this reform proposal particularly emphasizes the need to adapt to the "significantly changed global financial landscape since 2019," suggesting that its regulatory framework will continue to evolve to address the new challenges posed by encryption technology.

Some analysts also believe that the ban may limit retail investors' access to encryption in the short term, but in the long run, it may promote mainstream financial institutions to gradually begin accepting digital assets.

As McKee stated, the ultimate goal of reform is to build a modern regulatory system that "can effectively combat money laundering while supporting the efficient operation of businesses."

At the same time, as the details of the bill are gradually disclosed, how New Zealand balances financial innovation with risk control will become an important case for observing the cryptocurrency regulatory strategies of small open economies.

#加密货币ATM禁令 # New Zealand #反洗钱 # counter-terrorism financing