New Zealand central bank: Cryptocurrencies don't need regulation

The RBNZ is stepping up monitoring of stablecoins and crypto assets following a public submission, but has not called for regulatory action. The Reserve Bank of New Zealand (RBNZ) Director of Currency and Cash, Ian Woolford, said in a statement on June 30 that the RBNZ agreed that supervisory measures were not needed at this time, but increased vigilance was needed. Global harmonization is essential to ensure effective regulation, and best practice is likely to become clearer as overseas regimes are implemented.