A new look at cryptocurrencies and blockchain
Date: 2024-04-11 Author: Oliver Abernathy Categories: BLOCKCHAIN
New Zealand's Minister of Finance, Andrew Bailey, expressed concern about the country's lagging behind in the development of the cryptocurrency sector and called for a review of the approach to innovation in the field of digital assets and blockchain.
Path to Active Participation
Bailey proposed reviewing policies and regulations for companies involved in the crypto industry and promoting closer interaction between the government and market participants.
He also emphasized the importance of creating educational programs and resources in the field of cryptocurrencies, as well as tax incentives and effective anti-money laundering measures.
Development of digital currencies
In addition to the proposed measures, the minister called on the Central Bank to consider accelerating the development of a digital currency (CBDC), believing that this would be a long-term incentive for the industry.
However, the head of the Central Bank of New Zealand, Adrian Orr, expressed concerns about cryptocurrencies, believing that they could negatively affect the stability of the global financial market.
