09 Jul 2026
3 months ago
896 views
The Government has decided against a blanket ban on crypto ATMs, opting instead for targeted regulations to reduce criminal misuse of virtual assets while allowing legitimate use. Cabinet will introduce regulation-making powers to restrict cash transactions for virtual assets, such as setting transaction limits or banning cash payments for high-risk assets if necessary. These measures are part of broader reforms to New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism system, balancing innovation with crime prevention.
31 Jul 2025
1 year ago
2008 views
The Government has agreed to raise the probate threshold from $15,000 to $40,000 to make it easier and cheaper for families to access assets of deceased loved ones, according to Justice Minister Paul Goldsmith. The current threshold set in 2009 no longer reflects the value of estates, especially with KiwiSaver balances, leading to smaller estates being burdened by court costs and legal fees. The increase aims to allow executors to distribute lower-value assets more efficiently, ensuring more of the estate goes to beneficiaries, while still maintaining oversight through the High Court for higher value assets to prevent fraud or non-compliance with the deceased's wishes.