New Zealand plans to ban encrypted ATMs to prevent illegal money laundering transactions

According to Foresight News, New Zealand has announced plans to ban cryptocurrency ATMs to prevent illegal money laundering and terrorist financing. Previously, New Zealand police stated that encrypted ATMs have become one of the main money laundering portals for drug traffickers, with 157 encrypted ATMs discovered in the country. In addition to prohibiting the use of encrypted ATM machines, New Zealand has also set a limit of $5000 for international transfers to curb the illegal offshore flow of funds.