tldr; New Zealand has banned crypto ATMs and capped cash transfers at $5,000, citing concerns over their use in money laundering and fraud. Critics argue that while these measures aim to curb criminal activity, they may also harm legitimate users and underbanked communities who rely on these services. The debate highlights the tension between regulation and innovation in the cryptocurrency space.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Scotty_NZ on
Surely just require a licence with IRD number?
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I bet there’ll still be money laundering
tldr; New Zealand has banned crypto ATMs and capped cash transfers at $5,000, citing concerns over their use in money laundering and fraud. Critics argue that while these measures aim to curb criminal activity, they may also harm legitimate users and underbanked communities who rely on these services. The debate highlights the tension between regulation and innovation in the cryptocurrency space.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Surely just require a licence with IRD number?