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In New Zealand, the regulation of crypto assets is guided by a technology-neutral approach. This means that any service or technology requiring adherence to regulations can be governed by laws not specifically designed for cryptocurrencies. The New Zealand Financial Markets Authority (FMA) oversees all financial activities, including cryptocurrencies. While the country maintains a neutral stance towards digital currencies, it has implemented measures to ensure proper regulation of these technologies and services. For example, New Zealand treats cryptocurrency as property, subjecting it to income tax. This means that individuals who profit from disposing of their cryptocurrency holdings, whether through selling, trading, or using it for purchases, are required to pay taxes on those gains. Understanding Cryptocurrency Regulation in New Zealand In New Zealand, regulations around cryptocurrencies are shaped by the country's technology-neutral legislative framework, meaning there is...

Singapore has a regulatory system in place for overseeing crypto firms, known as "digital payment token (DPT) providers" within the nation. The Payment Services Act (PSA) 2019 establishes the regulatory framework for these DPT service providers in Singapore. In November 2023, the Monetary Authority of Singapore announced intentions to tighten regulations for DPT providers, necessitating quick adjustments to the new regulatory landscape. To help people understand how crypto works in Singapore, we have made a guide that explains the rules in detail. Is cryptocurrency recognized as 'Legal Tender' in Singapore? Cryptocurrency is not classified as legal tender in Singapore. However, it can serve as an alternative method of payment. Legal tender in Singapore is the Singapore Dollar (SGD), regulated by the Monetary Authority of Singapore (MAS). Legal tender refers to the officially recognized currency for settling debts and fulfilling financial obligations within the co...