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New Zealand is cracking down on money laundering by banning all cryptocurrency ATMs and capping international cash transfers at $5,000. The move aims to disrupt criminal networks using crypto for illicit activities. The Financial Intelligence Unit (FIU) will also gain expanded powers to monitor suspicious transactions.
- New Zealand bans all crypto ATMs to prevent money laundering and criminal abuse of digital assets.
- A $5,000 cap on international cash transfers will be enforced to block illicit fund movements.
- The Financial Intelligence Unit (FIU) gains expanded powers to monitor and investigate suspicious transactions.
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