Tag Archives: New Zealand

New Zealand Implements OECD Crypto Reporting Rules to Enhance Tax Compliance. Non-compliance penalties include fines up to $6,200 for providers and $621 for users. On August 26, 2024, New Zealand’s Minister of Revenue, Simon Watts, proposed a significant legislation amendment to improve transparency in cryptocurrency transactions. The “Taxation Annual Rates for 2024-25, Emergency Response, and Remedial Measures” Bill, which includes the OECD’s Crypto-Asset Reporting Framework (CARF) and...

Crypto crime was a big deal in 2022, and while we’re only a few weeks into 2023, it looks like the trend is continuing after a criminal gang crackdown that resulted in close to $2 million in assets – some of which were crypto units – being seized by law enforcement officials. Crypto Crime Takes on a New Form Two men have allegedly been arrested in New Zealand for taking part in various drug dealings. Police came barging into the home they were both living in and seized...

An ex-Cryptopia staffer admitted he stole nearly NZ$250,000 or about $170,000. He pleaded guilty on two charges – theft by a person in a special relationship and theft of more than NZ$1,000. How Did The Crime Occur? A former employee of the non-functional New Zealand cryptocurrency exchange, Cryptopia, confessed to stealing about $170,000 worth of digital assets. According to the hearing at the Christchurch District Court on Monday before Judge Gerard Lynch, the man made an...

New Zealand law enforcement authorities claim to have seized more than $90 million in bitcoin funds from the now 39-year-old Alexander Vinnik, the alleged fraudster who’s accused of stealing billions of dollars in crypto from unsuspecting victims through the now defunct BTC-e cryptocurrency platform.Alexander Vinnik Sees His Money TakenVinnik’s crimes apparently date back to the year 2011. The United States has sought his extradition on charges of computer fraud, computer hacking and drug...

While reviewing the upcoming distribution of digital assets left in Cryptopia storage, Judge David Gendall at the High Court in New Zealand classified Bitcoin and all cryptocurrencies as “properties.” The decision means that users of the exchange are allowed to receive the remaining funds.New Zealand Court: Bitcoin Is PropertyCryptopia was a New Zealand-based cryptocurrency exchange with a significant number of users. In January 2019, however, the platform suffered two back-to-back hacks. The...

What initially started out as an attempt to halt a movie pirate from doing “his thing” has turned into something much larger. A man based in New Zealand named Jaron David McIvor has had nearly $7 million in crypto funds confiscated by local law enforcement after they were tipped off to his illicit business.McIvor Loses His FundsMcIvor – 31 years of age – tried to disguise his job and lifestyle by living in a very modest home with relatives. What was unknown was that the man was sitting on a...