Cryptocurrencies and Consumer Rights in New Zealand: Risky Business?

Abstract

Analysis of the technological, legal, socio-economical, and ethical implications of cryptocurrencies is quickly producing a vast and often interdisciplinary body of literature.Depending on its perceived nature, different set of laws would be applicable to a cryptocurrency and the goods and services associated with it. This article focuses on the consumer rights aspect of trade in cryptocurrencies in New Zealand. The aim of the article is to provide an analysis of the application of existing consumer rights protection laws to users of cryptocurrencies. The analysis is built on the manner in which cryptocurrencies are currently treated for legal purposes in New Zealand.

Keywords: Cryptocurrencies, Bitcoin, Consumer Rights, Consumer Law, Blockchain