CA ANZ is supportive of Reserve Bank of New Zealand (RBNZ)’s work to consider what shape digital cash could take if it were to be introduced in New Zealand. Noting that no other advanced economy central bank has currently issued a digital form of money to the public, CA ANZ supports an approach that allows New Zealand to be prepared to be a ‘fast follower’ at the appropriate time. 

According to CA ANZ, the process of documenting and carefully working through the issues will be vital prior to any introduction. It will be critical to ensure that the taxation aspects are transparent and easily understood prior to implementation. CA ANZ recommends some aspects be reviewed.