Reserve Bank of New Zealand taking ‘cautious approach to crypto,’ watching global developments

Blockworks
Blockworks

30 Jun 2023 4:00 PM

Despite the Reserve Bank’s crypto reservations, Binance expanded into New Zealand in September 2022....

  • The Reserve Bank of New Zealand announced increased vigilance on crypto regulation.
  • The Bank received 50 submissions on digital assets, including central bank digital currencies (CBDCs).
  • New Zealand is exploring a CBDC but has not made a decision yet.
  • Submitters suggested allowing crypto startups to grow into regulation, but it doesn't mean New Zealand will pursue this approach.
  • The Bank agrees that caution is needed and emphasizes the need for enhanced data and monitoring.
  • Binance expanded into New Zealand in September 2022.

The sentiment of the article is cautious and emphasizes the need for careful consideration and monitoring in crypto regulation.

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