Re: The New Zealand Pension Fund announced a $ 17.5 million bitcoin (BTC) investment

Quote from: StartupAnalyst on Today at 03:42:22 PM

It’s great that The New Zealand Pension Fund invested in BTC and get huge profit. But “New Zealand currently does not have specific legislation related to cryptocurrencies.” and “Regulators have applied existing laws to cryptocurrencies, albeit the lateness of official guidance about how the regulators would view them within existing legal frameworks has caused some confusion and uncertainty.”
https://www.loc.gov/law/help/cryptoassets/newzealand.php#:~:text=New%20Zealand%20currently%20does%20not%20have%20specific%20legislation%20related%20to%20cryptocurrencies.&text=Cryptocurrency%20exchanges%20appear%20to%20be,purposes%20of%20income%20tax%20legislation .
Sounds like Regulatory Approaches to Cryptoassets in New Zealand are controversial so Pension Fund may have some problems with using their BTC.

I don't see this is as some problem... it's like you have something valuable, but you don't know how to use it, I guess they will figure that out pretty quickly!
Many companies entered crypto in the last year, but this is the first time I am reading how the government sector, in this case, the New Zealand pension fund, invests in crypto! This is risky step for them, and probably this wasn't easy decision to make!

In the end, things are moving forward for crypto... little by little the adoption is spreading on all sides! Good move for New Zealand and their people who are in pension and the ones who will be! I guess I can't expect anything similar from my country, sadly!