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Prepare FSP registration and AML/CFT setup for crypto in New Zealand
Fact Checked by: Maksim Gasanbekov
Overview
Operating a virtual asset service business in New Zealand means registering as a Financial Service Provider on the FSPR and complying with the AML/CFT Act as a reporting entity supervised by the Department of Internal Affairs (DIA), which became New Zealand’s sole AML/CFT supervisor on 1 July 2026. Most virtual asset service providers must register; the full path — company formation, AML programme, FSPR and DIA registration — runs about 3 months.
The Financial Markets Authority (FMA) is the primary regulator of the financial products market, including cryptocurrencies. All participants must comply with the Financial Markets Conduct Act 2013 (FMCA). Cryptocurrencies are considered assets, trading/exchange transactions are subject to taxation, and providers must register with the Financial Service Providers Register (FSPR).
In New Zealand, approximately 33.6% of the population invests in digital assets. There are 221 BTC ATMs, and more than 7 million transactions with a total value of NZD 7.8 billion have already been made. EasyCrypto, BitPrime, and Local Coin Swap have been licensed and provide their services to thousands of users.
Digital currencies are widely used locally — 400+ shops, cafes and restaurants accept crypto, including Oyster & Chop, Frankton Pizzeria and Mr Pipes.
New Zealand is not a high-risk jurisdiction and is not FATF-blacklisted; authorities report to the FATF annually and keep improving AML/CFT procedures.
From 2025 the Invest New Zealand agency simplifies market entry for fintech; the Global From Day 1 venture fund and Crypto Community already operate locally.
Mining is treated as a taxable business (not licensed); electricity is a business expense, and unauthorised use of others' hardware is a crime.
FSPR-licensed companies that meet AML/CFT requirements gain banking access — Kiwibank, BNZ and ASB work with crypto purchases through exchanges.
There are no separate New Zealand crypto laws; all participants are subject to the regulations adopted for the financial market. The FMA is the main market regulator, reviewing license applications and ensuring compliance with all requirements.
Blockchain regulation in New Zealand is based on the following legislative acts:
The main requirement for all financial market participants is compliance with New Zealand's AML/CFT standards, ensuring transparency of business activities, and protecting user rights.
Any company offering financial products related to virtual currencies is required to obtain a NZ crypto license, as well as:
The process of obtaining a New Zealand crypto license is regulated by a number of regulations and requirements from government agencies aimed at protecting the rights of users and their investments, ensuring transparency of activities by FATF recommendations, and preventing financial crimes. Legalization of blockchain businesses takes place in several stages:
The type of activity (crypto exchange, investment, trading, mining) determines which permits are required and which government agencies you need to register with. Company registration takes place online by filling out the Companies Register form. The company must have a legal address, hire a resident director or manager with permanent residency status, and pay a state fee ($130-150).
To fully operate as a virtual asset service provider in New Zealand, you must:
The FMA licenses activities related to financial advice, investment offerings, and investment management, including derivatives.
Before applying, the following documents must be collected:
Although there are no minimum capital requirements, the company must prove its financial stability (for investment activities, a minimum of NZD 100,000) and have liability insurance (PI insurance).
An annual report must be submitted to the IRD and DIA, and the data in the register must be kept up to date, and any changes must be notified to the state registrars.
When registering a legal entity in NZ, it is important to remember that income from trading, exchange, profits from staking/airdrop, DeFi, NFT, and mining are subject to a 28% income tax, as well as the following:
Cryptocurrency is not a means of payment, but is treated as property.
Companies operating in the digital asset space must comply with strict regulatory requirements and register with the DIA, FSPR, and DRS. However, it is precisely this approach to regulatory control that creates a favorable and understandable environment for the legal development of any type of crypto activity, from the creation of a crypto exchange to staking and mining.
FMA authorization indicates that the business complies with local laws, user rights, and that their investments are protected, and AML/CFT requirements are met. Together, this provides legal protection for clients, partners, and investors in the rapidly evolving digital finance sector.
Yes, cryptocurrencies are treated as property, and income from exchange, trading, mining, and staking is taxable.
Although there is no separate crypto license for providers in the jurisdiction, they must comply with general financial regulations and obtain a license from the FMA.
Yes, to register a legal entity, you must hire a local manager (resident/permanent resident) and have a legal address in the country.
Yes, the jurisdiction is a FATF member and fully complies with all AML/CFT requirements. When registering a fintech company, you need to register with the DIA and then report any suspicious transactions and conduct CDD/ECDD procedures.
Client Testimonials
Gofaizen & Sherle has successfully implemented all the tasks related to the settlement of legal part (company formation and VASP license application) of our exchange whitebit.com.
Vladimir Nosov
CEO WhiteBIT
Case study
Services Provided: End-to-end support with company share transfers in Lithuania and the USA (Montana), corporate account opening, AML/KYC policy development, regulatory compliance for FNTT and FinCEN, MICA licensing advisory, HR recruitment for C-level and AML roles, and payroll accounting services.
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