New Zealand Business Minister: We should support the development of the cryptocurrency industry
New Zealand Minister of Commerce Andrew Bailey responded to an investigation by the government's legislative committee by stating that New Zealand should support the development of the cryptocurrency industry and adopt an evidence-based approach to regulating the industry. This response requires cabinet approval and responds to recommendations made in a report by the Finance and Expenditure Committee after investigating the potential impact and risks of the industry.
Bailey also noted that the report indicated that the country's "wait and see" attitude could cause New Zealand to miss out on the benefits of industry development. New Zealand "should take a more proactive and innovation-friendly approach to digital assets and blockchain (including cryptocurrencies)."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Whales Amass $1B ETH: Signs Point Toward $5K Target
Silent Giants on the Prowl: Understanding the Role of Ethereum Whales in Potentially Propelling ETH to a $5,000 Valuation
SEC's SAB121 Rule Cancellation Will Benefit This Altcoin the Most!
Markus Thielen said that Ethereum could experience a rally following the cancellation of SAB121.
Ethereum Founder Vitalik Buterin Announces Ethereum's 2025 Roadmap! Here Are the Details
Ethereum founder Vitalik Buterin has outlined a detailed vision for the platform's growth and development through 2025.
Stablecoins to Compete with Credit and Debit Cards