NEW ZEALAND Law and Practice Contributed by: James Cochrane, Andrew Comer, Carlo Wan and Graeme Crombie, Lane Neave
Commerce Commission The Commerce Commission oversees the Fair Trading Act 1986 (FTA) and other consumer protection stat- utes, including the Credit Contracts and Consumer Finance Act 2003 (CCCFA). These may apply to cryp- to-asset activities involving misleading or deceptive conduct, consumer lending, or buy now, pay later The RBNZ oversees crypto-asset activities and assesses how blockchain technologies impact mon- etary policy. It is exploring a CBDC, with the earliest possible introduction of “digital cash” being 2030. Serious Fraud Office (SFO) The SFO oversees serious financial crime. In 2025, the SFO revised its strategic areas of focus to include an increased emphasis on fraud carried out through emerging technologies, including cryptocurrency. International Alignment services linked to digital assets. Reserve Bank of New Zealand New Zealand’s regulators have sought to align with international standards in a measured and incremental way, without adopting any universal regulatory frame- work as a whole. FATF The DIA has issued comprehensive guidance for vir- tual asset service providers that aligns with the FATF “Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers.” VASPs in New Zealand are caught under the AML/CFT Act, con- sistent with FATF standards on virtual asset regulation. OECD/CARF New Zealand has adopted the OECD’s CARF, effective since 1 April 2026, aligning NZ with international tax transparency standards. Reporting Crypto-Asset Ser- vice Providers (RCASPs) must collect and report user transaction data to the IRD, which will share the infor- mation with the relevant international tax authorities. Financial Market Infrastructure Standards New Zealand’s Financial Market Infrastructure (FMI) Standards (in force since 1 March 2024) align with international principles.
a creditor entitled to prove in a liquidation, as per Section 240 of the CA93. Trust beneficiaries are typically not considered creditors. • Receivership: A receiver’s primary duty is to secure repayment of monies owing to their appointor, not to administer trusts. The receivership and VA of Futureverse in September 2025 highlights how See the discussion in 3.1 Licensing Requirements regarding FSP DRSs and in 4.1 Marketing regarding the ASA. Also, see the discussion in 1.1.5 Industry and Trade Bodies regarding Blockchain Forum New Zealand and its role in the crypto-asset industry. both options may run in tandem. 1.2.6 Industry and Trade Bodies 2. Regulation 2.1 Regulators and International Alignment Relevant Regulatory Bodies The following regulatory bodies are most relevant to businesses or individuals using blockchain and cryp- The FMA is the primary regulator for entities offer- ing financial products, financial advice products and financial services in relation to crypto-assets under the FMC Act. Department of Internal Affairs (DIA) to-assets in New Zealand. Financial Markets Authority The DIA is the AML/CFT regulator in respect of casi- nos, non-deposit takers, money changers, and other reporting entities which are not otherwise supervised. Although the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the “AML/CFT Act”) does not specifically refer to crypto-assets, the RBNZ, FMA and DIA consider that most crypto-asset ser- vice providers, including exchanges, brokerages, and token issuers, are likely to fall under the AML/CFT Act. Inland Revenue Department (IRD) The IRD oversees the taxation of crypto-assets in New Zealand.
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