The difficultes of opperating in New Zealand

The Law foundation recently published a report on the current state of Cryptocurrencies in New Zealand.

The full report can be found. here
Included in the report are a number of key recommendations

We are in agreement with the reports recommendations. Specifically in regard to the problems we face in gaining accessing the New Zealand banking system.

  • New Zealand -based cryptocurrency exchanges should be encouraged, and clear and detailed guidance provided as to their anti-money laundering/counter- the funding of terrorism (AML/CFT) obligations by both the Department of Internal Affairs (DIA) and the Financial Markets Authority (FMA).

  • Cryptocurrency exchanges that comply with AML/CFT and other requirements must have access to bank accounts with New Zealand banks.

    • NZBCX Ltd. - New Zealand bitcoin Exchange - Posted 2018-10-27