Lobby New Zealand is calling on the New Zealand Government to recognize Bitcoin as a foreign currency by 7 September 2021, when it becomes legal tender in El Salvador.
Currently, under New Zealand law, Bitcoin is classed as a taxable asset. Lobby New Zealand believes this is grossly unfair on both New Zealanders and Salvadorians alike.
On Sunday Lobby New Zealand sent an open letter to Prime Minister Jacinda Ardern. The letter, later posted to Twitter, has since been seen over 1,500,000 times worldwide, with great support both domestically and Internationally.
Right now New Zealand has an opportunity to lead the world forward, in what would be a justified legal move. Lobby New Zealand will continue to lobby the New Zealand Government on Bitcoin reclassification for 7 September 2021, when Bitcoin officially becomes a foreign currency.