New Zealand Rejects Blanket Crypto ATM Ban, Opts for Targeted Regulation

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.