According to Bitcoin.com News, ACT proposes to exempt individual retail investors who hold compliant cryptocurrency assets for more than one year from capital gains tax, while professional traders and businesses who hold them for less than one year will still be subject to current tax regulations. ACT proposes tax exemption for small personal consumption of encrypted assets, and establishes regulatory and tax rules for payment based stablecoins, tokenized securities, and real-world assets, as well as setting up regulatory sandboxes. Nicole McKee stated that clear rules, moderate safeguards, and reduced regulatory complexity will help New Zealand develop digital finance, modern capital markets, and financial innovation. The New Zealand government has proposed a bill to implement the Organization for Economic Cooperation and Development's Cryptocurrency Asset Reporting Framework (CARF).
