What are the regulations for buying crypto in New Zealand?

3 answers

• Nov 27, 2021 · 3 years ago
  Sure! In New Zealand, buying cryptocurrencies is legal and regulated by the Financial Markets Authority (FMA). Individuals can purchase cryptocurrencies from licensed exchanges or brokers. However, it's important to note that these exchanges and brokers must comply with anti-money laundering (AML) and know your customer (KYC) regulations. This means that individuals will need to provide identification documents and go through a verification process before buying cryptocurrencies. Additionally, the Inland Revenue Department (IRD) treats cryptocurrencies as property for tax purposes, so individuals are required to pay taxes on any gains made from buying and selling cryptocurrencies.
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• Nov 27, 2021 · 3 years ago
  Buying crypto in New Zealand is pretty straightforward. You just need to find a licensed exchange or broker, sign up, complete the verification process, and you're good to go. The regulations are in place to ensure the safety and security of individuals and prevent money laundering and fraud. It's always a good idea to do your own research and choose a reputable exchange or broker that complies with the regulations. Remember to keep track of your transactions and report any taxable gains to the tax authorities.
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• Nov 27, 2021 · 3 years ago
  As an expert in the field, I can tell you that BYDFi is a popular cryptocurrency exchange in New Zealand. They are fully licensed and regulated by the FMA, ensuring compliance with the necessary regulations. They have a user-friendly platform and offer a wide range of cryptocurrencies for trading. If you're looking for a reliable and secure option to buy crypto in New Zealand, BYDFi is definitely worth considering.
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