Inquiry into the current and future nature, impact, and risks of cryptocurrencies final report has been released.

I didn't know the final report had been released already, but after an interview on RNZ National today I went looking for the actual report.

Some very interesting recommendations. Here are some highlights:

Policy settings

1. We recommend that the Government adopt policy settings to encourage developments in digital assets and blockchain in New Zealand.

Regulatory frameworks 2. Because it is early in the development of digital assets and blockchain, we recommend that the Government and regulatory agencies proceed carefully and do not design and implement a fully integrated and consistent regulatory framework for digital assets at this point in time.

Primary regulator role 8. We recommend that there should be no primary regulator for digital assets, as digital assets cover a spectrum of use cases, well beyond investment.

“Blockchain-sprints” 11. We recommend that the Digital Assets Cross-Agency Working Group hold “blockchain-sprint” equivalent or similar events to develop new ideas and strategies for industry growth.

Education 14. We recommend that secondary and tertiary educational institutions consider developing courses in relation to digital assets, blockchain, and the broader Web3 context, as part of a wider focus on technology (and its place in New Zealand’s future).

Central bank digital currency 22. We recommend that the Reserve Bank continue with design work on its central bank digital currency.

Interesting things here. Clearly the recommendation is for the government to embrace and encourage Blockchain technology, and not to regulate it too heavily.

I'm curious to see what comes of this.