According to CoinMeta, ACT proposes to exempt individual retail investors who have held compliant crypto assets for more than one year from capital gains tax, while those who have held them for less than one year, professional traders, and corporations will continue to be taxed in accordance with current regulations. In addition, ACT also proposes to exempt small-scale personal consumption of crypto assets and to establish regulatory and tax rules for payment-type stablecoins, tokenized securities, and real-world assets, while setting up a regulatory sandbox as well. le and McKee state that clear rules, appropriate safeguards, and reduced cumbersome regulation will help New Zealand develop digital finance, a modern capital market, and financial innovation. The New Zealand government has proposed a bill to implement the Organization for Economic Co-operation and Development's (OECD) framework for reporting on crypto assets, CARF.