Crypto ATMs — regulation instead of a ban — NZ Politics Promise Tracker

ISSUEIn progress

Crypto ATMs — regulation instead of a ban

● Law and Order1 tracked update

✦ AI Overview

On 9 July 2026 Associate Justice Minister Nicole McKee announced the Government would not proceed with an outright ban on cryptocurrency ATMs, and would instead take a targeted regulatory approach. In June 2025 Cabinet had agreed in principle to ban the machines outright, pending further analysis. Under the new plan, Cabinet will create regulation-making powers to restrict cash transactions for virtual assets — for example maximum transaction thresholds, or prohibitions on higher-risk assets — if evidence of harm warrants it. McKee said crypto ATMs pose real risks where criminals use cash to move funds into virtual assets quickly and anonymously, but that they "can have legitimate uses, including for cash-reliant New Zealanders", and that "banning something is a serious decision that should not be taken lightly". The change sits within the Government's wider anti-money-laundering and counter-terrorism-financing work.

This overview is summarised by AI from public sources. It may contain errors and is a guide, not the definitive record — we welcome corrections.

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Should cryptocurrency ATMs be regulated with limits rather than banned outright?

Given that criminals can use crypto ATMs to move money anonymously, should they be banned completely to reduce that risk?

Key milestones

Jul 2026official

Government opts for regulation over a crypto ATM ban

Associate Justice Minister Nicole McKee said the Government would not proceed with the outright ban on crypto ATMs it had agreed to in principle in June 2025, and would instead create powers to regulate cash transactions for virtual assets, such as transaction limits, where evidence of harm justifies it. McKee said the machines can be misused by criminals but also have legitimate uses.

Crypto ATMs to get guardrails, not the guillotine — Beehive ↗

Sources

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