The Office of Financial Regulation and Supervision of New Zealand (FMA) issued an official statement, which equated operations with digital currencies to securities transactions, according to Insider. Pro.

"All tokens or crypto-currencies are securities in accordance with the law on financial markets," the statement said..

According to the FMA commentary, even if the tokens do not fall under the definition of financial products, including debt and equity securities, derivatives and managed investment products, they are in any case securities and must be regulated in accordance with the law on financial markets behavior of 2013, requirements of the Fair Competition Act 1986.

The Office also notes that the law on financial market behavior does not deal with crowdfunding issues and holding ICOs, so those wishing to place an initial placement of coins should contact the regulator "at an early stage".

"New Zealand companies that provide services using crypto currency must comply with the requirements of the relevant law of 2008, which includes registration in the register of financial service providers for each category of service, payment of commissions, compliance with requirements related to combating money laundering and illicit trafficking. ", The statement says..

A separate FMA warning is addressed to investors. The regulator recommends remembering that the exchange rate is extremely unstable, and they are accepted for payment far from everywhere. In addition, it is emphasized that crypto-investors can become a target for scammers, and their funds, stored on cryptotices, can be stolen.