Deputy Minister of Justice of New Zealand, Nicole Mckee) announced that the country’s authorities are going to ban the use of cryptomats in order to prevent criminals from converting cash into crypto assets.

New Zealand authorities also intend to introduce a $ 5,000 limit to international money transfers. These measures are aimed at combating money laundering and financing terrorism, Macca explained. Legislators are already working on a new bill expanding the powers of the police and regulatory bodies. The financial intelligence unit of New Zealand will be able to collect detailed financial data on persons performing suspicious transactions.

“The government is seriously determined to fight crime. We want New Zealand to become one of the most convenient jurisdictions in the world to conduct a legal business and a place where it will be difficult for criminals to hide, ”said Nicole McCA.

The co -founder of the New Zealand Cryptoporama Easy Crypto, Janine Grainger, supported the ban on local authorities on cryptomats, the number of which is rapidly increasing throughout the country. Granger said that she is interested in accepting cryptocurrencies, but devices operators should ensure customer safety and comply with regulatory requirements. She noted that these changes will not affect ordinary users who now prefer “safer and more transparent platforms”.

The founder of the Giottus crypto -tank, Arjun Vijay added that without the introduction of the “Know your client” (KYC) procedure, the prohibition of cryptomats in many jurisdictions will be inevitable. In addition, cryptomats charge high commissions for converting, which usually have 5-10%, but can reach 20%. Therefore, cryptomats are becoming less and less in demand for economical users of cryptocurrencies and attract mainly those who want to exchange funds received illegally, said Visja.

Last year, the Ministry of Revenues of New Zealand proposed toughening the requirements for reporting with cryptocurrencies for suppliers of virtual assets services. Recently, the financial markets of New Zealand (FMA) called cryptocurrencies with high-risk investments due to the high volatility of the crypto.