New Zealand Central Bank: Will closely monitor cryptocurrencies and stablecoins, no regulatory measures needed for now

ChainCatcher news, Ian Woolford, the head of currency and cash at the Reserve Bank of New Zealand (RBNZ), stated in a statement that the central bank agrees that there is currently no need for regulatory measures, but vigilance is required. Woolford noted that the public submission document indicates that cryptocurrencies pose "significant risks and opportunities," as well as "uncertainties" in the development of the industry, thus requiring extra attention: "We agree that caution is necessary, which also emphasizes the need to strengthen data and monitoring to build understanding."

Additionally, Woolford added that global coordination is crucial for ensuring effective regulation. As overseas systems are implemented, best practices may become clearer. (Source link)