“New Zealand Deputy Minister of Justice Nicole McKi has announced the intention to completely ban the work of cryptocurrency ATMs in the country. According to her, it is part of a broader strategy for combating money laundering. “We need a more intelligent and flexible AML/CFT system that will complicate cash conversion into risky assets, including cryptocurrencies,” McKi explained. According to Coin ATM Radar, now in the country […]”, – WRITE: Businessua.com.ua
New Zealand Deputy Minister of Justice Nicole McKi has announced the intention to completely ban the work of cryptocurrency ATMs in the country. According to her, it’s part of the wider strategies for combating fund laundering.
“We need a smart and flexible system AML/CFTwhich will complicate the conversion of cash into risky assets, including cryptocurrencies, ”McKi explained.
According to Coin ATM Radar, there are now 221 cryptoban committee in the country.
The government will introduce a $ 5,000 limit on international transfers to reduce the risks of illegal withdrawal of funds abroad.
The Ministry is preparing a bill that will strengthen the powers of the police and regulators. In particular, financial intelligence will receive a broader data collection and a separate supervisory regime for sanctions in the financial sector will be created – all of this as the limitation of AML/FT.
In parallel, the government plans to simplify low -risk business and clients.
“We are serious about fighting crime rather than creating an extra bureaucracy for virtuous business,” McKi stressed.
Recall that in February 2024, the head of the New Zealand Reserve Bank, Edrian ORR, criticized cryptocurrencies, calling them “speculative coins” that do not perform the functions of the payment tool, conservation of value or settlement unit.
The gun
Please wait …