Shaping The Future: Binance NZ And MP Stuart Smith Lead Web3 Dialogue With Parliamentary Leaders

Digital assets present a significant economic opportunity for the country with a quarter of a million New Zealanders already holding cryptocurrency, including seven million transactions valued at approximately $7.8 billion¹.

To discuss the potential of digital assets, Binance New Zealand in collaboration with Stuart Smith, Kaikōura MP and Chair of the Government’s Finance and Expenditure Committee, jointly hosted an education workshop for Ministers and MPs. The evening focused on engaging discussion and education about the emerging landscape of digital assets. Attendees explored the productivity and economic growth opportunities that digital assets present for New Zealand and gained insights into regulation and successful frameworks from other jurisdictions around the world.

Sponsored by Mr Smith, the event was facilitated by locally based General Manager of Binance Australia and New Zealand, Ben Rose, along with Elton Cotton, Binance New Zealand Legal Counsel and Jeremy Muir, Blockchain NZ Chair and Advisor on cryptocurrencies to the Finance & Expenditure Select Committee.

“It was a great opportunity for Members of Parliament to learn about digital assets,” says Mr. Smith. “Unfortunately for most people, there is only a passing understanding of what cryptocurrencies are. Whether we like it or not, their potential to change the way we transact in a changing world means digital assets are here to stay and at the very least, we should try to understand how we might use them to our best advantage.”

Mr. Rose agrees. “We believe it is in the interest of local users and businesses for New Zealand to be taking an active approach to the opportunities that are available within the digital asset landscape. Europe, Dubai and Japan are paving the way for digital assets, so it’s vital that New Zealand doesn’t get left behind.”

¹ https://www.ird.govt.nz/media-releases/2024/focus-on-cryptoassets

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