Cryptocurrency License in New ZEALAND
The New Zealand digital platform is significantly developed due to the clear investment climate and the precise legal regulation expressed in licensing activities. Thus, the New Zealand Financial Markets Authority (FMA) relates transactions with cloud assets to securities, which puts them under regulatory control of two legislative acts:
- On Financial Markets,
- On Financial Service Providers.
Any variations of cryptocurrency are equal to the types of securities, so a license for cryptocurrency in New Zealand is not required. In this case, it is necessary formally to license the activity in accordance with which the the cryptocurrency market counterparties provide services to customers. The management, according to the official page, puts a heavy stress on the following: even if by some parameters a digital product cannot be identified by its features which are associated with securities, regulative measures are applied to such assets as valuable assets in any case. The license for cryptocurrency in New Zealand is identified with the license for the right to engage in operations with securities.