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New Zealand Clamps Down: Crypto ATMs Banned, Transfers Capped in Major AML Overhaul
New Zealand Clamps Down: Crypto ATMs Banned, Transfers Capped in Major AML Overhaul
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New Zealand just dropped a regulatory hammer on crypto—ATMs are out, transfers face strict limits, and compliance just got a whole lot heavier.
The Crackdown Goes Live
No more quick cash-to-crypto conversions: The FSA's sweeping anti-money laundering (AML) reforms target anonymity-first transactions. Peer-to-peer? Still standing—for now.
Bank-Style Rules Hit Digital Assets
Transfer caps mirror traditional finance, forcing crypto outfits to play by legacy rules. Critics call it 'debanking with extra steps.'
Cynical Finance Jab
Because nothing says 'innovation' like slapping 20th-century red tape on decentralized tech. TradFi must be thrilled.
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