New Zealand Stockbroker to Jump Into Crypto Trading Amid Rally

Key Points

1. Sharesies, a New Zealand stockbroker with over 700,000 users, is entering the cryptocurrency trading market.

2. The platform currently allows users to invest in stocks, ETFs, and managed funds with minimal amounts, such as 1 cent.

3. Cryptocurrency regulation in New Zealand relies on existing laws, with digital assets classified as property and overseen by the Financial Market Authority (FMA).

4. The FMA has introduced a regulatory sandbox to help blockchain startups test innovative products.

5. The move by Sharesies comes amid a rally in Bitcoin and other major cryptocurrencies, potentially increasing crypto adoption in New Zealand.