New Zealand Regulator: Cryptocurrencies Are Securities

Juggy777

hero member

Activity: 2646

Merit: 686

Quote from: sheld0n on November 03, 2017, 04:17:03 PM

New Zealand's finance regulator has released new guidance on initial coin offerings (ICOs) and cryptocurrencies.
In a statement published last week, the New Zealand Financial Markets Authority (FMA) outlined the ways in which token sales would be covered under national law. Notably, the regulator said that, in its view, any cryptocurrency or ICO-derived token would be considered a security.

What do you think? New Zealand could be a good destination to bring your cryptocurrencies into a safe harbour.

I haven't read much on this, but if this were to be true then I am definitely shifting there. New Zealand is one of the most beautiful destination in the world and I would love to retire there with my crypto's. I would love to buy myself a small cabin and scenic view, provided op context is true. One more advantage for Bitcoin, is that New Zealand is a tourism hub, and that shall make it easier for people to roam about without paying in cash.

hodlftw

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Santa Coin

What the hell? That has got to be the dumbest thing I have heard in a while and I have heard some crazy conspiracy theories as of late. Does New Zealand government even know what a security is? Literally because something is a token does not instantly make it a security those don't go hand in hand and that doesn't make sense. Good god people are thirsty to tax crypto hard they can't even get the dictionary straight Cheesy

Pursuer

legendary

Activity: 1638

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Where is my ring of blades...

Quote from: Tenderino on November 03, 2017, 04:22:43 PM

I do not understand what they mean with a security? Will the New Zealand government guarantee that the ICO is no scam? I highly doubt that they will guarantee that every ICo registered in New Zealand will succeed.

Like I have already assumed, like with the offshore gambling locations to avoid tax payments and regulations there will be some ICO heavens. Wink

This will make some regulations in other countries obsolete!

this may be the first step in the process of banning ICOs.
many countries have been doing it. because the way Initial Coin Offerings are working these days is that anybody with basic understanding of how to create a token is starting his own ICO and just raises some funds and when they get the funds they don't do anything else anymore, they just move on to creating a new one to make more money.
and that is illegal all over the world.

sam431

newbie

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There's a bunch of interesting token sales coming up including AppCoins, Nucleus Vision and Gameflip. I think it'd be an interesting idea to add them to my portfolio in small amounts at first and gauge the level of appreciation before I buy more or I pull out (hopefully for max profit!).

digaran

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🖤😏

Quote from: Tenderino on November 03, 2017, 04:22:43 PM

I do not understand what they mean with a security? Will the New Zealand government guarantee that the ICO is no scam? I highly doubt that they will guarantee that every ICo registered in New Zealand will succeed.

Like I have already assumed, like with the offshore gambling locations to avoid tax payments and regulations there will be some ICO heavens. Wink

This will make some regulations in other countries obsolete!

They will become your financial parents, imagine you are not 18, you will need your parents to do anything. if you go to New Zealand and try to invest on any ICO, government will have you to pay tax. they're regulating crypto currencies. they will not guarantee anything, they are centralizing a decentralized market.

Tenderino

full member

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I do not understand what they mean with a security? Will the New Zealand government guarantee that the ICO is no scam? I highly doubt that they will guarantee that every ICo registered in New Zealand will succeed.

Like I have already assumed, like with the offshore gambling locations to avoid tax payments and regulations there will be some ICO heavens. Wink

This will make some regulations in other countries obsolete!

sheld0n

sr. member

Activity: 322

Merit: 250

New Zealand's finance regulator has released new guidance on initial coin offerings (ICOs) and cryptocurrencies.
In a statement published last week, the New Zealand Financial Markets Authority (FMA) outlined the ways in which token sales would be covered under national law. Notably, the regulator said that, in its view, any cryptocurrency or ICO-derived token would be considered a security.

What do you think? New Zealand could be a good destination to bring your cryptocurrencies into a safe harbour.

Topic: New Zealand Regulator: Cryptocurrencies Are Securities (Read 211 times)