Cryptocurrency exchange Binance said it has registered as a financial service provider in New Zealand, allowing residents to access services including spot trading, non-fungible tokens and staking.
According to the Coin Telegraph, Binance has registered with New Zealand's Department of Business, Innovation and Employment and has opened new local offices in the country.
Zhang Bing Zhao, CEO of Binance, said: “New Zealand is an exciting market with a strong history of technological innovation.
New Zealand lawmakers and regulators have largely not enforced strict guidelines for crypto companies to operate in the country, not even for citizens to freely use cryptocurrency.
The New Zealand Tax Authority said in 2019 that income from cryptocurrency was legal, and that the country's Reserve Bank is exploring the potential benefits and risks of a central bank digital currency.
Last June, Huobi Global secured registration as a New Zealand-registered financial services provider, but later suspended its derivatives trading services to residents, citing compliance with local regulations.
New Zealand is a smaller market, with a population of about 5.1 million, compared to its neighbor in Australia, where 4.2 million people own cryptocurrencies.
