Reserve Bank of New Zealand (RBNZ) initiates public consultation on proposed digital currency
The Reserve Bank of New Zealand (RBNZ) is currently conducting an experimental stage to consider including an acceptable digital version of its national currency that will be subject to issue and series. Apart from a four-stage strategy, the central bank has technically kicked off by initiating a 101-day public consultation to listen to the stakeholders […]
New Zealand Health Sector Embarks on Major ICT Overhaul to Enhance Care Delivery
New Zealand’s health administration, led by Te Whatu Ora and Health Minister Dr. Shane Reti, has unveiled a strategic plan to drastically improve data and technology capabilities while simplifying the country’s ICT infrastructure. This is a bold step toward revolutionizing the country’s healthcare system. By tackling systemic issues for a long time, this effort will […]
Reserve Bank of New Zealand governor sparks debate with comments on central banking and Bitcoin
Reserve Bank of New Zealand Governor Adrian Orr’s recent remarks during a parliamentary committee meeting have ignited discussions within the cryptocurrency community. While meant as a jest, Orr’s comments about the nature of central banking and the rise of decentralized digital currencies like Bitcoin have drawn attention and sparked debates on the future of finance. […]
New Zealand bank governor Adrian Orr slams stable coins as ‘Oxymorons
In a recent statement, Adrian Orr, the governor of the Reserve Bank of New Zealand, expressed skepticism and concern regarding the use of stablecoins as substitutes for traditional fiat currencies. Orr’s remarks were made during a session with a parliamentary committee in Wellington, where he emphasized the inherent risks associated with stablecoins, asserting that they […]
Revolut launches over 100 crypto options in New Zealand
London-based fintech firm Revolut has made a significant stride in the cryptocurrency market by launching its trading services in New Zealand. This move allows customers in the country to buy, sell, and hold a variety of digital currencies through the Revolut app, marking a new chapter in the accessibility of cryptocurrencies to the general public […]
New Zealand welcomes NZDD stablecoin and multi-crypto wallet
In a significant advancement for the cryptocurrency market in New Zealand, Easy Crypto, in partnership with Australian blockchain company Labrys, has unveiled the NZDD, a new stablecoin pegged to the New Zealand dollar. This development marks a major step forward in the integration of traditional finance and digital currency in the region. The NZDD aims […]
New Zealand banks join forces to combat scams through new measures
The New Zealand banking sector is taking proactive measures to combat scams targeting customers, which includes establishing a national Anti-Scam center, pooling resources to combat money laundering, and enhancing public awareness. In the second quarter of 2023, there were 1,950 reported scams in New Zealand, resulting in a total loss of NZ$4.2 million ($2.48 million), […]
New Zealand urges caution on swift crypto regulation
As the thundering waves of cryptocurrency fervor sweep across the globe, nations grapple to catch up, drafting regulations and implementing controls to harness this digital tide. New Zealand, however, charts a different course, urging global peers to proceed with caution rather than diving headfirst into the turbulent crypto waters. Walking the Tightrope: Balancing Innovation and […]
Dasset exchange clients struggle as accounts freeze amid financial distress
Auckland-based exchange Dasset is mired in financial distress, leaving its clients grappling with frozen accounts and uncertain futures. The Herald reports today that the exchange’s precarious situation has left users with substantial holdings in limbo. The sudden freeze on their accounts has blindsided clients of Dasset as the cryptocurrency exchange prepares for liquidation. According to […]
Should the Reserve Bank of New Zealand Collaborate with Ripple on CBDC?
Ripple is on the move, extending its cryptocurrency expertise with the XRP Ledger (XRPL) to craft Central Bank Digital Currencies (CBDC). There has been speculation that the Reserve Bank of New Zealand is stepping into the ring, engaging in discussions with Ripple for this exciting venture. What’s the potential of such a collaboration if this […]
New Zealand releases consultation paper on potential CBDC
TL;DR Breakdown New Zealand’s central bank is seeking public inputs on a potential digital dollar. The bank is positive that the CBDC can preserve the nation’s monetary sovereignty. Te Pūtea Matua, the central bank of New Zealand is now exploring the possibilities of launching the nation’s digital dollar. Part of the reason is to preserve […]
NZ Commission orders a Lions Share scheme promoter to stop
TL:DR Breakdown: Lions share promoter in New Zealand has been ordered to stop her promotions. The authorities said the crypto operation is likely a pyramid scheme, which is illegal. New Zealand authorities have initiated investigations to crack down pyramid scheme businesses running in the country. As part of that movement, NZ regulator, the Commerce Commission, […]
BurstIQ could protect New Zealand’s most vulnerable children
TL;DR A quarter of a million of New Zealand’s most vulnerable children have been abused in state care. No-one stopped and asked why these victims were troubled. BurstIQ’s is set up to ensure that clients can securely move sensitive medical information. BurstIQ could protect New Zealand’s most vulnerable children A quarter of a million of […]
CBDC research underway by the Reserve Bank of New Zealand
Assistant Governor at the Reserve Bank of New Zealand delivered a speech to the Royal Numismatic Society of New Zealand Christian Hawkesby spoke about the country’s economic history and the bank’s plans for the future New Zealand has no plans of launching a CBDC but continues to research them The Assistant Governor at the Reserve […]
Auckland man faces 30 charges of money laundering involving crypto
A 40-year-old man from New Zealand has been charged for money laundering involving cryptocurrencies. He laundered millions of dollars via expensive items, including cars. Bad actors have been resorting to using digital currencies as another means to launder large amounts of money without getting caught. Eventually, law enforcement agencies could still track and arrest them […]
NZ crypto companies undergo probe by Inland Revenue
Accurate calculation of taxes can sometimes be challenging for the investors in the cryptocurrency industry. To better understand crypto-assets for taxation, the tax agency in New Zealand, Inland Revenue Department (IRD) has, however, requested that the crypto companies operating in the country should submit the personal information of their customers, including details of their digital […]
