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NEW ZEALAND JOINING THE CRYPTO GRAB: Because Who Needs Actual Economic Freedom When You Can Have More Bureaucratic Red Tape?

Crypto NewsRegulation/Negotiation 1 Doug Martinez August 30, 2024

A cartoonish illustration depicting a giant bureaucratic octopus wrapping its tentacles around a small, fleeing kiwi bird representing New Zealand's economy. The background features swirling clouds and dollar signs as the country is engulfed by red tape.

I’m not surprised even more governments are trying to get in on the action, but what’s next? Will New Zealand start issuing its own currency and calling it ‘Kiwibucks’? The OECD’s Crypto Asset Reporting Framework (CARF) is just a fancy name for ‘we want our cut of your crypto pie’. And who can blame them? It’s not like anyone actually uses cryptocurrency for anything other than speculation or tax evasion. But hey, at least the Kiwis are trying to make it easier for themselves to get their hands on some of that sweet, sweet crypto cash.

Source: bitcoin.com

New Zealand Seeks to Adopt OECD's Crypto Asset Reporting Framework
https://news.bitcoin.com/new-zealand-seeks-to-adopt-oecds-crypto-asset-reporting-framework
The New Zealand government has introduced a bill to implement the OECD’s Crypto Asset Reporting Framework (CARF). This framework aims to increase transparency in the crypto asset market. Effective April 1, 2026, New Zealand-based crypto-asset service providers (CASPs) must collect and report information on reportable users’ transactions. Penalties are proposed for non-compliance by CASPs and crypto asset users. The New Zealand Revenue Minister has introduced a tax bill proposing the […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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