New Zealand not quick to implement crypto regulatory policies
New Zealand’s central bank is trying to exercise caution in taking a regulatory approach towards crypto and stablecoins, stating that the government is monitoring the development of crypto regulations globally. The Reserve Bank of New Zealand’s (RBNZ) Director of Money and Cash, Ian Woolford, released a statement on June 30, based on the summary of submissions from 50 stakeholders. It stated that while risks are associated with crypto currency and stablecoins, there were uncertainties around the growth trajectory of the burgeoning asset class globally. Woolford stated part of the submissions believed it was essential to regulate the sector to protect investors from scams and implosions. Still, most submitters called for a more flexible regulatory approach that would encourage innovation. Woolford states, “We agree that caution is needed, reinforcing the need for enhanced data and monitoring to build understanding.” You might also like: Coinbase advocat...