The Government of New Zealand plans to prohibit automatic distributors of Crypto tickets as part of a overhaul of its fight against money laundering and the fight against terrorism financing (AML / CFT) diet.
The government wants to target the means that criminals use “converting high-risk assets such as cryptocurrencies”, according to an announcement by Associate Minister of Justice Nicole McKee.
McKee also proposed to set a higher limit of 5,000 New Zealand dollars ($ 3,000) So that international cash transfers allow criminals to move their funds to offshore.
The cabinet presented a bill to strengthen the police ‘application powers and allow regulators to “repress” people involved in money laundering, she added.
“The new approach will provide more clarity and consistency for companies while maintaining a strong emphasis on the prevention of criminal use of the financial system,” said McKee in Wednesday’s announcement.
ATMs of crypto tickets allow users to buy a cryptocurrency by inserting money or a bank card and whether cryptography is delivered to a portfolio of their choice. However, they are somewhat ripe for criminal activity. Scholars can, for example, announce goods for sale online, order their buyer to deposit funds in a specific portfolio, then disappear.
As such, they have been subject to severe regulatory monitoring in a number of countries, such as the neighbor of New Zealand Australia.
There are approximately 38,505 automatic crypto shops in the world, according to the ATM corner radar, more than 30,000 people in the United States
New Zealand has 221, according to the same site.
Read more: Australia retracts suppliers of automatic crypto as the crooks target the elderly
