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Lobby New Zealand, an NGO, asks the Government to recognize bitcoin as a foreign currency

The non-profit organization, Lobby New Zealand, sent a letter to the Prime Minister of that country, Jacinda Ardern, asking her as a representative of the Government to recognize bitcoin as a foreign currency.

The letter was published this Monday, June 14, 2021, on the NGO’s Twitter account. In the document, he also calls on the central administration to make this request come true in a period of 86 days when it is expected that the cryptocurrency law will be accompanied by regulation so that it is legal tender in El Salvador.

The non-profit organization, Lobby New Zealand, sent a letter to the Prime Minister of that country, Jacinda Ardern, asking her as a representative of the Government to recognize bitcoin (BTC) as a foreign currency.
Lobby New Zealand, an NGO, asks the Government to recognize bitcoin as a foreign currency 2

The organization added in the letter that New Zealand must fulfill its obligations as a sovereign nation. 

He believes that when normal international travel resumes, assuming it is after September 7, 2021, it is fair to assume that many New Zealanders and Salvadorans will travel between each country. 

For those arriving in New Zealand, the transition from bitcoin to the New Zealand dollar may incur tax charges under current legislation. 

Lobby New Zealand believes that this is extremely unfair to both New Zealanders and Salvadorans

In the last paragraph of the letter, the NGO tells the government that it is willing to help them legally to make the necessary changes so that bitcoin is considered a foreign currency.

In another tweet, Lobby New Zealand argues that a foreign currency should not be classified or taxed as an asset under that nation’s law.

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The NGO opened a thread where it received the response of its followers to this last proposal. For example, user ZoombiDip points out:

Another tweeter, Free Market Maximalist, said: “Maybe I don’t understand the tax implications of assets versus the currency. But I’m pretty sure it’s quite different in most countries. ‘

What is Lobby New Zealand?

On its website, Lobby New Zealand presents itself as an independent non-profit organization

Lobby New Zealand is an independent, non-profit organization.
We aim to achieve a better outcome for all New Zealanders.

Lobby New Zealand

Their objective is to research and analyze government policies and actions.

Also on their website, it states that “the question” they are asking is “whether their actions and policies are following the best interests of our society.”

Among other actions, this NGO has asked the New Zealand government through press releases to condemn the actions of Hamas in the midst of the violent conflict that is taking place in Israel “extended for New Zealand to stand against all violence from Hamas, including any actions against other foreign nations. Hamas’ barbarous actions and lack of humanity must be condemned in all its entirety.”

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It has also formally requested that Trevor Mallard resigns from his position as Speaker of the New Zealand House of Representatives, stating that he could not be “in good conscience” continue to his role, including:

  • using parliamentary privileges to accuse an innocent individual without basis,
  • his failure to withdraw his statements and apologize on time despite knowing he was wrong within 24 hours of making such an accusation,
  • his attempt to go to court to reject the defamatory accusation by the individual whilst consciously knowing that he is wrong in the case, and
  • his refusal to pay back the $333,000 compensatory and legal fees, which have now been imposed on the taxpayer.

Regulation of the Bitcoin Law must be ready in 90 days

This New Zealand Lobby request coincides with the time (90 days) in which the regulation that will accompany the Bitcoin Law is estimated to be ready to give legal tender to the most popular cryptocurrency in the Central American nation.

As noted recently Joan Godoy, a political science student in Guatemala and cofounder of the exchange Coincaex in the “Alliance bloc Blockchain” program, which is broadcast on the YouTube platform.

The next 90 days of what happens in El Salvador are the transcendental ones to define how this issue is going to develop. There are so many aspects and variables that the government has to consider … for which they only have 90 days. They cannot be turned back.

Juan Godoy, co-founder of the Coincaex exchange.

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Disclaimer:

The information expressed in this article is solely those of the author and do not necessarily reflect the vies of CryptoDeFinance.  Each and every investment and trading move involves high risk. You should always conduct your own research when making a decision in crypto investment.
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Bruno Marques

Hi! I am the CEO/Founder of Crypto DeFinance, and I am an Enthusiast crypto investor. I started this project so we can provide you with carefully curated news. If you like us and our news, share the posts and comment. Your visit and interaction is very important to us.
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