🇳🇿New Zealand

Detailed overview

New Zealand at a glance

New Zealand regulates crypto technology-neutrally under existing financial-services law — there is no bespoke crypto statute, with FMA-supervised FMC Act 2013, FSPR registration, AML/CFT Act 2009 (DIA as VASP supervisor) and IRD taxation as property. There is no specific PSP/e-money licence: payments sit under the FMC Act 2013, the Retail Payment System Act 2022 and the FMI Act, with banking under RBNZ. Gambling runs under the Gambling Act 2003 (six classes, including casino and Lotto NZ) with TAB NZ holding the exclusive online race/sports monopoly; the Online Casino Gambling Act 2025 introduces up to 15 DIA-licensed online operators from Q1 2027.

Crypto regime — technology-neutral, no bespoke law:

• No bespoke crypto statute; existing law applied technology-neutrally
• FMC Act 2013 (FMA) — fair-dealing prohibitions and disclosure rules for offers of financial products; FMA may designate ICO tokens as a particular financial product; advertising guidance broadened (October 2021)
• FSP Act 2008 — FSPR registration required for locally based or NZ-targeted financial service providers, including most VASPs; dispute-resolution scheme for retail clients
• AML/CFT Act 2009 — three supervisors: DIA (primary VASP supervisor), FMA (wealth/derivatives), RBNZ (banks/NBDTs); FMA VASPs rated high-risk (2021 Sector Risk Assessment); FATF Travel Rule not yet implemented
• Tax (IRD): crypto = property; no general CGT but profits on disposal taxed at marginal income rates up to 39% (Ruscoe v Cryptopia); intention/business tests; OECD Crypto-Asset Reporting Framework (CARF) implemented via the Taxation Act 2025 with reporting from 2026
• 2025 fintech/AML tightening: ban on crypto ATMs and a NZ$5,000 (≈ USD 2,930) cap on international cash transfers introduced; FMA 2025 regulatory sandbox; CoFI/Conduct of Financial Institutions framework
• NZDD (NZD-pegged stablecoin) — FMA-confirmed not a "debt security" (no interest, 1:1 fiat representation) — green light for use as a payment token

Payments and e-money regime (no specific licence):

• No specific PSP/e-money licence (FMA primary source); activity is regulated under the FMC Act 2013 (fair dealing/financial products) and, potentially, the NBDT Act 2013 (RBNZ)
• Retail Payment System Act 2022 (RPSA) — Commerce Commission monitors competition/efficiency; regulates designated retail payment networks (Visa/Mastercard initially designated); interchange-fee cap at the lower of 0.8% per transaction or April-2021 levels (in force 13 November 2022)
• Financial Market Infrastructures Act and RBNZ Act 2021 — payment-system oversight; Payments NZ (RBNZ-backed industry body) governs the three core clearing systems (>NZ$7 trillion annually)
• RBNZ digital cash (CBDC) consultation under way; New Zealand has no domestic real-time P2P/PoS rail (a recognised gap)
• Currency: NZD, free-floating

Gambling regime — Gambling Act 2003 + 2025 online overhaul:

• Gambling Act 2003 — six legal classes (Classes 1–4, casino, Lotto NZ) plus private gambling, sales-promotion schemes and gambling under the Racing Industry Act; all gambling prohibited unless authorised (s. 9); DIA administers; Gambling Commission decides class-4/casino matters
• Lotto NZ (Lotteries Commission) — twice-weekly national lottery monopoly (Lotto, Powerball, Strike); TAB NZ — exclusive online racing/sports-betting monopoly (Racing Industry Act 2020 amendments effective 28 June 2025)
• Online Casino Gambling Act 2025 — bill introduced 30 June 2025, passed third reading, Royal Assent expected ~May 2026; up to 15 DIA licences awarded by competitive auction (anti-concentration cap of 3 per applicant); 3-year initial term renewable once up to 5 years; 16% Online Gambling Duty (incl. 4% community ring-fence) plus the Problem Gambling Levy; advertising restrictions (offshore advertising prohibited from 1 May 2026; max fine for offshore-gambling ads NZ$10,000 ≈ USD 5,860); 90-day go-live + 270-day minimum availability; applications open 1 December 2026; first-launch Q1 2027; penalties up to NZ$5m (≈ USD 2.93m); minimum age 18
• Land-based casinos: SkyCity (the principal operator); ~13,985 Class-4 pokie machines across 977 venues (Jul–Sep 2025 GMP NZ$266.5m); ≥40% of GMP must be returned to community/charitable purposes

Last verified: May 2026. Reference rate: USD 1 = NZD 1.71 (1 NZD ≈ USD 0.585). The New Zealand dollar floats freely; RBNZ does not target a level and publishes a 17-currency Trade-Weighted Index.

New Zealand is a transparent, common-law OECD jurisdiction: crypto applied technology-neutrally under existing securities/AML/tax law (with CARF and 2025 AML tightening), no specific payments/e-money licence (FMC + RPSA + NBDT framework), and a freshly-overhauled gambling sector — Gambling Act 2003 + TAB NZ online monopoly + the new Online Casino Gambling Act 2025 (15 DIA licences, Q1 2027 launch).

Is there a crypto licence in New Zealand?

Not a bespoke one. New Zealand regulates crypto technology-neutrally under existing law: FSPR registration (FSP Act 2008), AML/CFT (DIA as primary VASP supervisor), the FMC Act 2013 (FMA — where activity meets a financial-product/service definition), and IRD tax rules treating crypto as property (Ruscoe v Cryptopia). CARF reporting from 2026.

The legal foundation:

• No bespoke crypto statute; technology-neutral application of existing law
• FSP Act 2008 — FSPR registration; retail providers must join a dispute-resolution scheme
• AML/CFT Act 2009 — three supervisors; DIA is the primary supervisor for most VASPs (FATF-aligned), FMA for wealth/derivatives, RBNZ for banks/NBDTs
• FMC Act 2013 — fair-dealing + product disclosure; FMA may designate ICO tokens as a particular financial product
• IRD — crypto = property; no general CGT; disposal profits taxed at marginal income rates up to 39%; CARF implemented via Taxation Act 2025; data-matching with exchanges
• 2025 tightening: crypto-ATM ban; NZ$5,000 international-cash-transfer cap; FMA 2025 regulatory sandbox; CoFI conduct framework

Structure:

• Crypto exchanges, brokers, wallet providers and ICO issuers typically need FSPR registration + AML/CFT, with FMA market-services licensing for in-scope financial products (e.g. derivatives, MIS, DIMS)
• NZDD (NZD-pegged stablecoin) confirmed by the FMA as not a debt security where no yield is paid (use as a payment token; interest-bearing stablecoins could revert to regulated-product status)
• FATF Travel Rule not yet implemented

Operational reality:

• A mature, transparent and bank-accessible regime — but the regulatory perimeter is determined by economic-substance tests under existing law, not a single VASP licence; getting the categorisation right is the key risk
• CARF reporting, AML modernisation and the crypto-ATM/cash-cap measures signal hardening — design for documentation and bank-account due diligence
• Independent NZ legal/AML/tax counsel and direct verification with the FMA/DIA/IRD on current expectations are essential

Payments & E-money (no specific licence; FMC + RPSA + NBDT)

Best for payment, card-scheme, BNPL and e-money equivalents prepared to operate without a bespoke licence but inside the FMC Act 2013 + Retail Payment System Act 2022 perimeter.

What it is: No specific PSP/e-money licence (FMA-confirmed). Activity sits under the FMC Act 2013 (fair dealing/financial products), the Retail Payment System Act 2022 (Commerce Commission designation/regulation of retail payment networks), the FMI Act and the RBNZ Act 2021; the NBDT Act 2013 may apply where the activity involves issuing a debt security.

Who it suits: Payment service providers, card schemes, BNPL networks and e-money-equivalent operators able to operate in a flexible but obligation-rich regime, plus banks/NBDTs licensed by the RBNZ.

Covers: Retail payments, card schemes, BNPL, prepaid stored value, mobile wallets, merchant acquiring; designated retail payment networks subject to Commerce Commission rules (interchange caps).

Operational requirement: NZ entity; FMC Act 2013 fair-dealing/conduct compliance; AML/CFT (DIA/RBNZ supervision per activity); RPSA compliance if a designated network (interchange-fee cap at the lower of 0.8%/transaction or April-2021 levels); NBDT Act 2013 licensing where the activity involves a debt security; Payments NZ integration for clearing access.

Headline figures

• Primary instruments: FMC Act 2013; Retail Payment System Act 2022 (Commerce Commission; interchange cap effective 13 Nov 2022); Financial Market Infrastructures Act; RBNZ Act 2021; NBDT Act 2013
• Regulators: FMA (FMC Act); Commerce Commission (RPSA); RBNZ (banks/NBDTs/FMI); DIA (AML/CFT for non-FMA, non-RBNZ entities)
• Infrastructure: Payments NZ (>NZ$7 trillion annually across three clearing systems); RBNZ digital cash (CBDC) consultation
• Currency: NZD, free-floating; no exchange controls

Is there a gambling licence in New Zealand?

Yes — multi-class, freshly overhauled. Land-based gambling is governed by the Gambling Act 2003 (six classes incl. casino + Lotto NZ; DIA-administered). Online racing/sports betting is the exclusive monopoly of TAB NZ (Racing Industry Act 2020; from 28 June 2025). The Online Casino Gambling Act 2025 (Royal Assent ~May 2026) creates up to 15 DIA-licensed online casino licences (competitive auction) for a Q1 2027 launch.

The legal foundation:

• Gambling Act 2003 — primary statute; six legal classes (1–4, casino, Lotto NZ); s. 9 prohibition by default
• Racing Industry Act 2020 (as amended 2025) — TAB NZ exclusive online racing/sports-betting monopoly, effective 28 June 2025; offshore betting offers to NZ residents prohibited
• Online Casino Gambling Act 2025 — up to 15 DIA licences (competitive auction); 3-year initial term + 5-year renewal; 16% Online Gambling Duty (incl. 4% community ring-fence); Problem Gambling Levy; advertising restrictions (offshore from 1 May 2026; max fine NZ$10,000 ≈ USD 5,860); 90-day go-live + 270-day minimum availability; applications 1 Dec 2026; Q1 2027 launch; penalties up to NZ$5m (≈ USD 2.93m)
• Gaming Duties Act 1971 (Online Gambling Levy framework); identity verification aligned to AML/CFT Act 2009 (detailed regulations expected June 2026)

Structure:

• Casino — limited licensed land-based operators (SkyCity); regulated by DIA/Gambling Commission
• Lotto NZ — exclusive lottery monopoly (Lotto, Powerball, Strike); TAB NZ — exclusive online racing/sports betting; protected from competition (online-casino licences refused where they would compete with a protected NZ lottery or TAB product)
• Online casinos — Q1 2027 from up to 15 DIA licences; applications open 1 Dec 2026; auction-based pricing; max 3 licences per applicant
• Class 4 (pokies) — community-trust model; ≥40% of GMP returned to community; quarterly GMP ~NZ$266.5m (Jul–Sep 2025); reforms (pop-up harm messages, cashless pre-commitment) in progress
• Class 3 lotteries — society/community (prizes > NZ$5,000 require a licence, NZ$88.99 ≈ USD 52 fee); online ticket sales permitted from 1 Nov 2024
• Minimum age 18

Gambling — Gambling Act 2003 + Online Casino Gambling Act 2025

Best for international online-casino operators competing for one of 15 DIA licences, land-based casino operators, and society/community lottery promoters; not for private lottery, online racing/sports-betting or any operator targeting NZ without a DIA licence.

What it is: A DIA-administered authorisation under the Gambling Act 2003 (casino, class 1–4, Lotto NZ) or, from Q1 2027, an Online Casino Gambling Act 2025 licence; TAB NZ holds the exclusive online racing/sports-betting monopoly.

Who it suits: Established international online-casino operators with multi-jurisdiction credentials (incl. AML, RG, technical certification) competing for one of 15 NZ licences; SkyCity-style land-based casino operators; society/community Class 3 lotteries.

Covers: Online casino gambling (Q1 2027), land-based casino games, Classes 1–4, Lotto NZ (state monopoly), Class 3 lotteries; not private lottery or private online racing/sports betting (TAB NZ monopoly).

Operational requirement: NZ-targeting platforms tied to a specific brand/website; competitive-auction acquisition of a licence; 90-day go-live and 270-day minimum availability; AML/CFT-aligned identity verification; advertising restrictions; Problem Gambling Levy + 16% Online Gambling Duty (incl. 4% community ring-fence); SkyCity is a flagged domestic candidate; SkyCity (currently MGA-licensed online) is widely expected to be a leading applicant.

Headline figures

• Primary laws: Gambling Act 2003; Racing Industry Act 2020 (as amended); Online Casino Gambling Act 2025; Gaming Duties Act 1971
• Online casino licences (cap): 15; max 3 per applicant; 3-year term + 5-year renewal; Q1 2027 launch; applications open 1 Dec 2026
• Duty/tax: 16% Online Gambling Duty (incl. 4% community ring-fence) + Problem Gambling Levy
• Penalties: up to NZ$5m (≈ USD 2.93m) for serious or persistent breaches; offshore-gambling-ad fines up to NZ$10,000 (≈ USD 5,860)
• Class 3 fee: NZ$88.99 (≈ USD 52); min age: 18

Costs and timelines at a glance

• Crypto: no bespoke law; technology-neutral application — FMC Act 2013 (FMA), FSP Act 2008 (FSPR), AML/CFT Act 2009 (DIA primary VASP supervisor; FMA wealth/derivatives; RBNZ banks/NBDTs); IRD: property, marginal rates up to 39%; CARF via Taxation Act 2025 (reporting from 2026); 2025: crypto-ATM ban + NZ$5,000 (≈ USD 2,930) international-cash cap; FMA 2025 sandbox; NZDD not a debt security (FMA)
• Payments: no specific PSP/e-money licence; FMC Act 2013 + RPSA 2022 (Commerce Commission; interchange cap lower of 0.8%/txn or April-2021 levels, from 13 Nov 2022) + FMI Act + RBNZ Act 2021 + NBDT Act 2013; Payments NZ >NZ$7 trillion/yr
• Gambling: Gambling Act 2003 (6 classes incl. casino + Lotto NZ; DIA/Gambling Commission); TAB NZ exclusive online racing/sports betting (from 28 Jun 2025); Online Casino Gambling Act 2025 (Royal Assent ~May 2026) — up to 15 DIA licences (auction; max 3/applicant; 3+5 yr); 16% Online Gambling Duty (incl. 4% community ring-fence); applications 1 Dec 2026; Q1 2027 launch; offshore-ad ban from 1 May 2026; min age 18; penalties up to NZ$5m (≈ USD 2.93m)
• Currency: NZD, free-floating
• FX: USD 1 = NZD 1.71 (1 NZD ≈ USD 0.585)

Who New Zealand suits and who it does not

Suitable for

• Crypto exchanges, brokers and wallet providers prepared to register on the FSPR, meet AML/CFT (DIA) and operate technology-neutrally under the FMC Act 2013, with CARF/IRD reporting and bank-grade due diligence
• Tokenised-securities/derivatives issuers and asset managers (DIMS/MIS/derivatives) able to obtain FMA market-services licensing
• Payment, card-scheme, BNPL and stablecoin-payments operators comfortable in a no-specific-licence framework with FMC Act 2013, RPSA interchange caps and FMI/RBNZ oversight
• International online-casino operators with multi-jurisdiction credentials competing for one of 15 DIA licences for Q1 2027 launch, and SkyCity-style land-based operators

Not suitable for

• Operators expecting a bespoke crypto or payments licence — neither exists; perimeter is determined by economic-substance tests under existing law
• Private online racing or sports-betting operators or private lottery operators — TAB NZ and Lotto NZ hold statutory monopolies; offshore advertising to NZ users is prohibited
• Online-casino operators unable to win one of 15 competitive-auction licences, or unwilling to accept the 16% Online Gambling Duty, 90-day go-live and 270-day availability requirements
• Operators planning to rely on offshore online targeting of NZ — offshore advertising banned from 1 May 2026; max NZ$10,000 fine; large operator penalties up to NZ$5m
• Businesses reliant on crypto ATMs or large cross-border cash transfers — 2025 measures restrict both