TL;DR: On 10 July 2025, Associate Justice Minister Nicole McKee announced New Zealand would ban crypto ATMs through anti-money laundering reforms. She called them a "sound form of money laundering" and cited $107 million laundered through criminal organisations. Provider CoinFlip, which runs about 120 machines, called it "a step backward." For scam victims, the lesson is the same either way: no legitimate person ever asks you to pay at a crypto ATM.
The announcement
According to 1News:
- Crypto ATMs will be banned under proposed changes to NZ’s AML/CFT regime.
- Minister McKee said the machines are a "sound form of money laundering."
- She cited a case where crypto bought meth sent to New Zealand, and said she was "alarmed" by crypto financing crime and weapons.
- She pointed to $107 million laundered through criminal groups.
At the time of the report, the ban was proposed, and no start date was given.
The industry’s view
CoinFlip, one of the largest operators with around 120 NZ machines, called the ban a "step backward" that doesn’t fix the underlying problem. It suggested alternatives like wallet pinning, pre-transaction monitoring and real-time scam warnings.
Why scammers love crypto ATMs
Crypto ATMs let a victim turn cash into crypto in minutes and send it to a wallet controlled by a scammer, often by scanning a QR code the scammer sends. There’s no bank in the middle to ask "are you sure?" and no way to reverse it.
We’ve seen the playbook across the Tasman: Australia went from 67 crypto ATMs to over 1,800 in three years, and AUSTRAC found most heavy users were over 50, many of them scam victims (Australia’s crackdown).
Other ways crypto scams reach Kiwis
Banning machines doesn’t stop crypto scams. Watch for:
- Fake police asking about your crypto, then leading you to enter your seed phrase on a fake site (NZ police crypto scam);
- Deepfake politician ads pushing crypto platforms (deepfake Luxon scam);
- Investment chat groups promising guaranteed returns.
The simple rule
If anyone, whether a "bank investigator", a "police officer" or an online romance, tells you to buy crypto to protect or grow your money: it’s a scam. Hang up, call your bank, report to Police on 105.
A free exposure check shows whether your contact details are circulating in breach data.
Frequently Asked Questions
Is New Zealand banning crypto ATMs?
Yes. The government announced in July 2025 that crypto ATMs would be banned as part of anti-money laundering reforms.
Why is NZ banning crypto ATMs?
The Associate Justice Minister called them a sound form of money laundering and cited $107 million laundered through criminal organisations.
How many crypto ATMs are in New Zealand?
The report didn’t give a total; CoinFlip alone ran about 120 machines.
Will anyone legitimate ask me to pay with a crypto ATM?
No. Treat any such request as a scam.