New Zealand — crypto regulation

Status: partial · Last reviewed 2026-11-05

Crypto is legal but New Zealand has no crypto-specific statute. The High Court held in Ruscoe v Cryptopia (2020) that crypto is property, and Inland Revenue taxes it as property. Exchanges and wallet providers must register as financial service providers and meet AML/CFT duties. The FMC Act applies only where a token is a financial product, and in March 2026 the FMA designated the NZDD stablecoin as not a financial product. The OECD CARF has applied since 1 April 2026, with first reports due by 30 June 2027. In July 2026 the government dropped its planned crypto ATM ban; instead the AML/CFT (Omnibus) Amendment Bill, introduced 28 August 2026, would create powers to restrict cash transactions involving virtual assets. The FMA is also reviewing custody rules, including for digital assets (June 2026), and developing an 'on-ramp' licence.

Legislation

• Financial Markets Conduct Act 2013 — applies only to tokens that are financial products (2013)
• Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (2009)
• Financial Service Providers (Registration and Dispute Resolution) Act 2008 (2008)
• Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 — Crypto-Asset Reporting Framework (2025)
• AML/CFT (Omnibus) Amendment Bill (Government Bill 342-1) — pending (2026)
• FMA designation — NZDD stablecoin is not a financial product (2026)