Why New Zealand Abandoned Its Crypto ATM Ban for Targeted Controls
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New Zealand announced on July 9 it will impose targeted controls on crypto ATMs rather than a nationwide ban previously agreed in principle for June 2025, proposing cash transaction caps and possible bans on cash use for high-risk virtual assets. The approach aims to curb crypto ATM scams that have caused major losses and address high ATM fees of 6%–19% while preserving lawful access, providing regulatory clarity for crypto security and adoption.
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- New Zealand favors targeted crypto ATM controls over a nationwide ban on all machines.
- Proposed rules could cap cash transactions or ban cash use for high-risk virtual assets.
- Crypto ATM scams caused major losses, while transaction fees can range from 6% to 19%.
New Zealand plans targeted controls for crypto ATMs instead of a nationwide ban. The proposal could allow cash transaction limits and restrictions on high-risk virtual assets. Officials say the approach aims to reduce criminal misuse while preserving lawful access.
Associate Justice Minister Nicole McKee announced the decision on July 9. The cabinet had agreed in principle to ban the machines in June 2025. However, that decision remained subject to further policy analysis.
The analysis found that less restrictive controls could address the risks. The government plans to include new regulation-making powe…
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